Source: Detica Group
Detica Group plc (DCA.L), the business and technology consultancy, today announced that a global insurance organisation has purchased a Detica NetReveal licence together with related professional services.
This follows the announcement earlier this year that RBS Insurance had bought the product.
Detica NetReveal is designed to help insurers detect more fraud with much greater speed, accuracy and efficiency, enabling genuine claims to be processed faster and premiums to be kept competitive. Its pioneering approach to fraud intelligence — spotting entire networks of fraudulent activity — has already proved successful in helping the UK's Insurance Fraud Bureau achieve an unprecedented number of arrests of the most serious organised cross-industry criminal gangs and a significant return on investment.
Andy Cobb, Director of Business Development for Detica NetReveal, commented: "Our continued emphasis on developing powerful models for detecting financial crime across all insurance lines is reaping substantial benefits for insurers across the industry and brings particular benefits to global players as they standardise on a single resilient solution."