Ember seeks to spot fraud faster for insurer

Insurer uses speech analytics to help recognise fraudulent claims from the outset

According to the Association of British Insurers, there were over 67,000 fraudulent motor insurance claims in 2016, costing the industry an estimated £775 million.

One innovative motor insurer has decided to explore new ways to tackle this growing problem, using Ember’s speech analytics experts. The insurer, which has previously applied speech analytics to transform its call monitoring, asked Ember to explore how the same technology could support fraud detection.

Providing a true picture of fraudulent activity

Ember analysts will examine calls where customers first notify the insurer of a loss. The initial search will focus on a series of pre-determined terms, based on phrases already identified by the insurer as potentially indicating fraudulent claims, or where the caller could be a victim of fraud. As well as providing hard data about the frequency with which these terms occur, this analysis can then be compared with the number of calls flagged by agents as possibly fraudulent.

Both sets can then be tracked through to the claim’s conclusion, giving a clear picture of the accuracy of both the analytics approach and agents’ ability to recognise possible fraud. That can then be used to feed into targeted training and individual performance management.

Senior consultant Andy Rothwell is leading the project for Ember.

“Our speech analytics platform gives us the ability to analyse large volumes of recorded calls at speed,” he says. “That means that within just a few weeks, we can provide a detailed picture of how many fraudulent claims our client may be dealing with – and compare that with the claim outcomes to see how successful its fraud tracking processes are. If speech analytics can help pinpoint a greater proportion of fraudulent claims and do so sooner, that will be a real benefit to the provider and its customers.”

Reducing premiums, accelerating claim handling

“As well as helping us avoid paying out for fraudulent claims, early detection also means that we don’t waste time and effort processing them,” a senior manager at the insurer comments. “That in turn reduces our costs – which we can pass on in the form of lower premiums – and means our agents can focus on resolving the real claims faster.”

If the analytics technology proves its mettle, the initial work can form the basis of an ongoing anti-fraud solution that can be quickly deployed for this insurer.

About our client

Our client is an award-winning UK online motor insurer offering 5-star Defaqto rated cover. It has more than 4,500 staff and uses only UK contact centres.

About Ember

Ember Group was established in 2010 and is a specialist consulting, analytics and professional services group dedicated to transforming customer engagement and CX strategies and operations for major brands globally. With offices in London and Toronto, they deliver solutions to help organisations realise their customer service vision and increase commercial value from their service operations. The Ember Group has teams of specialists across various practices and disciplines, including service operations, digital, outsourcing, technology, commercial and finance, analytics, recruitment & search, training and L&D.

For more information contact Ember on 020 7871 9797 or info@embergroup.co.uk