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iovation Earns UK Insurance Provider Partner Award For 2015

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iovation Earns UK Insurance Provider Partner Award For 2015

December 01, 2015
By Oliver VanDervoort
Contributing Writer

iovation (News - Alert) has long been a company that has been trusted by insurance clients and other companies in the industry for several years. That was underlined when the company was recently named the 2015 "Outsourced Partner of the Year" in Post Magazine's Data, Analytics and Technology Awards for Insurance. The company was specifically selected because of iovation’s device-based fraud prevention solutions and the positive impact those solutions have had on the UK insurance provider’s industry.

The company has managed to come up with several solutions that have had a positive impact on the community at large. The firm has worked on a wide range of programs that have to do with the insurance industry including offerings such as a reputation manager that can be easily incorporated into fraud prevention models.

"Online fraud is no longer perpetrated by the 'lone wolf,' it's carried out by highly sophisticated organized gangs who are constantly coming up with new ways to perpetrate their schemes," iovation's Business Development Manager for Insurance, Tristan Prince said in a  recent statement about the award. "It's essential that insurance providers have a unified front to fighting fraud just like the bad guys have with their activities. I'm honored that iovation has been recognized for helping make this happen.”

When it comes to specific features, iovation’s solutions have helped companies with a number of functions such as:

  • Stopping fraud risks by linking fraudulent claims together
  • Quickly uncovering organized gangs of criminals working in collusion
  • Preventing ghost brokering, crash for cash schemes and quote manipulation.

The iovation solutions also allow users to immediately know which devices that might be interacting with their site have hurt other insurers. The solutions do this by comparing and contrasting more than 25 million fraud reports in iovation's global device intelligence network. 

Edited by Peter Bernstein

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