Open GI partners with Verisk on new vehicle fraud solution
Technology experts Open GI have launched in partnership with global information services provider, Verisk Insurance Solutions, a new vehicle check to help brokers combat application fraud.
The check, titled ‘V-Risk’, is available on Open GI’s fraud management platform for both personal and small commercial motor vehicles. It provides a vehicle data/history check to validate vehicle details, assess the risk during underwriting and at claim stages.
Open GI are the first technology provider to offer this product to the broker market across the UK.
Nick Giddings, Open GI’s Proposition Director, explained:
“Car insurance fraud continues to be a challenge for the industry. Therefore, we are pleased to be able to offer our brokers additional products to help them combat application fraud.
“Verisk’s new solution, V-Risk, will not only help brokers verify vehicle details but will help provide greater accuracy on pricing premiums. This will give our brokers a major competitive advantage whilst continuing to help stamp out car insurance fraud.”
Verisk Insurance Solutions Managing Director, Ciaran McGaley, also added:
“We are delighted to be partnering with Open GI on this solution. Verisk Insurance Solutions have designed ‘V-Risk’ in conjunction with a number of leading motor insurers to help downstream claims and fast-track clients through the quotation process.
“This product aggregates and compares a range of data sources that include vehicle history, ownership, and use and combines multiple risk factors to deliver an easy-to-integrate and use risk scoring system. It will help brokers to rapidly get a handle on higher risk vehicles.”
Notes to Editors:
Open GI is the leading technology partner to general insurance brokers in the UK and Irish markets. Its Core broking platform provides multi-line, multi-channel, multi-brand trading capability complemented by innovative ecommerce and mobile technologies. Open GI is part of the Open International Group alongside sister companies Open GI London and Open GI Ireland.