Reason #10: Protect yourself against fraud
Boost fraud detection and avoid costly inspection for large-scale claims events thanks to the highly accurate location data in the ESRI (UK) Insurance Platform
| "ESRI (UK)’s Insurance Platform can enable claims teams to rapidly determine whether a property claim is legitimate – without having to visit the site" |
Detect, don’t inspect
Every insurer knows that fraud costs the industry millions, if not billions of pounds every year. But that cost isn’t only incurred from paying out on claims. In the commercial property insurance market, investigations into claims that are without merit also require a significant investment of time and manpower, as inspectors visit claims sites to assess their legitimacy.
However, in many cases this time can be vastly reduced with ESRI (UK)’s Insurance Platform. Should a flood, for instance, result in multiple customers submitting claims, the highly accurate mapping tools enable claims teams to rapidly determine whether a claimant is indeed located within the affected area – without having to visit the site. This dramatically lowers the time, resources and therefore cost involved in handling fraudulent claims.
The result is far greater protection against fraud following large scale events – at a much lower cost.
