Watch: Using Technology to Combat Fraud
The CHO hosted a webinar on Thursday 29 October 2020 looking at the use of technology in credit hire to combat fraud.
As many people face severe economic pressures, it is likely that credit hire companies (CHCs) may see an increase in potentially fraudulent or dishonest cases reaching them.
The webinar explored the different technologies available to CHCs throughout the claims process, from FNOL all the way to generating payment packs. The session covered both organised and opportunistic fraud and dishonesty.
IMS Tech Ltd, part of Trak Global Group, demonstrated how the use of tracking systems can support a wide range of elements within the claim including liability disputes, justifying need for the vehicle and journey patterns which may indicate misuse or theft of the vehicle.
IMS also spoke about vehicle recovery after theft or misuse, using fellow CHO member W4G Track Recovery. Both companies work together to track and repatriate vehicles across the UK and Europe, using a specialised team to recover vehicles and return them to their owners. They have a high rate of success of over 96% vehicles returned. To find out more about W4G Track Recovery, please click here.
The session also included a presentation from integrated voice technology company Digilog who showed how their risk indicating software can help CHCs, not just at the FNOL stage, but also through various stages of the claim assisting with potential fundamental dishonesty, particularly looking at opportunistic and first time fraud cases.
Finally, Verius Risk Solutions explained the nature of ID verification and the various technologies which can help confirm that identification. Verius founder James Bilham also took the audience through the process of blockchain and how this could play a key part in developing identification verification across all industries in the future.
The webinar is available to watch for CHO members, please contact firstname.lastname@example.org