Allianz to enhance fraud prevention as scammers turn to AI and deep fakes

Allianz’s personal lines business has teamed up with voice analytics firm Clearspeed to enhance its fraud detection capabilities.

The insurer said it was making the move as fraudsters continue to evolve their tactics, with it noticing scams involving artificial intelligence (AI) and deep fakes.

It also said cases where apps were used to distort real-life images, videos and documents increased by 300% from 2022 to 2023.

Allianz hopes its partnership with Clearspeed will help it detect more fraud and accelerate the processing of genuine customer claims.

Clearspeed uses technology that helps identify potential fraudsters that were previously undetected, while it also provides insights to bolster decision making.

Alex Martin, chief executive of Clearspeed, said: “Allianz is a world class organisation and we’re thrilled to announce our partnership with them as we expand our footprint in the UK insurance market.

“In an increasingly complex risk environment, with accelerating customer experience expectations, there’s never been a better time to reimagine the claims process.”

Fraud prevention

This came after Allianz reported a 29% increase in fraud prevention in 2023 compared to the previous year.

This spans across all types of insurance fraud, including application scams and false claims in home and motor lines.

The insurer’s partnership with Clearspeed comes as part of its investment into bolstering fraud prevention measures.

Ben Fletcher, director of financial crime at Allianz’s personal lines business, said: “Here at Allianz, we remain committed to combatting fraud and safeguarding the interests of our honest and loyal customers.

“Our increased fraud detection rate in 2023 reflects how seriously we take this issue and our partnership with Clearspeed is the next step in our ambitious plans to enhance our fraud prevention measures. I look forward to a collaborative and effective partnership to further prevent insurance fraud and crime.”