Capita plc (Capita) has secured a three-year contract worth £2.3m with mutual insurance group, Royal London, to deliver an integrated customer identity verification solution.
Capita’s Pay360 will supply Royal London with Optimize Verify, a cloud-based solution that will enable fraud and risk management teams to make more accurate automated decisions on customer acceptance to help manage fraud and risk. The Royal London teams will have access to advanced investigation tools that will help them to identify fraudulent patterns.
With Optimize, Royal London will be able to automate and streamline the customer verification checks required in its onboarding and claims processes. Through the Optimize platform Royal London will have access to thousands of different ‘data points’ through one single interface, allowing it to carry out numerous customer verification and validation checks, from bank accounts to email address profiling and sanctions checking.
Stephen Ferry, managing director of Pay360, said: “This partnership with Royal London demonstrates our ability to deliver innovative fraud and risk management solutions in the insurance sector. Our Optimize software ensures that clients are equipped to manage risk, quickly and easily, in today’s digital world.”