Hill Dickinson has become an Associate Member of the Credit Hire Organisation [CHO], the national trade body for credit hire companies. The CHO has additionally requested that Peter Oakes, Head of Fraud at Hill Dickinson, joins its Executive Committee to advise on counter fraud policy and strategies for CHO members. The move cements a long-standing relationship between the two organisations and demonstrates their continued and combined commitment to preventing and detecting fraudsters who target the motor insurance supply chain.
For more than a decade, Hill Dickinson has worked closely with insurers and credit hire companies to combat fraud; drawing on intelligence contained in over 200 million claims records within its Netfoil database and via the provision of its bespoke internet screening application to the sector. The success of these relationships has led to an increase in the detection of organised fraud rings targeting the motor insurance industry and facilitated the initiation of numerous private prosecutions, many of which have resulted in custodial sentences.
Oakes explains: “Fraudsters will seek to exploit any weakness in the insurance industry’s counter fraud controls. A unified front, built upon counter fraud collaboration throughout the motor insurance supply chain, improves the industry’s chances for detection and prevention of fraud. We will continue to support CHO members to share claims data and screen applications for replacement vehicles, in order that they can minimise individual commercial risk and contribute to the fraud defences of both their sector and the wider insurance industry.”
The CHO is committed to helping members to minimise their fraud risk and protect their company assets and supports industry wide collaboration in the battle against fraud. Martin Andrews, Director General of the CHO said: “We will continue to champion the benefits of data sharing, leading by example to encourage further sector and industry collaboration. Credit hire fraud is a significant issue for our members, and the CHO has lobbied the Government, law enforcement agencies and insurers urging more action to reduce fraud incidence. We value Hill Dickinson’s counter fraud expertise and we are delighted to have Peter Oakes’ dedicated input to our Technical Committee going forward.”