Us firm Insurance Services Office (ISO), which set up a UK office earlier this year, is looking into the possibility of creating a central database for personal and commercial claims.

ISO runs a similar database in the US to enable insurance companies to verify claims.

ISO business development director, David Smart, said it had been looking at the market and seen an opportunity to introduce better claims tools.

“I believe what we have in the States has greater coverage than anything available in the UK,” he said.

But he admitted there were a lot of things that needed to come together within the industry to make things move forward.