Synectics Solutions are delighted to announce that Precision, their predictive analytics solution that helps insurers to improve their ability to identify fraud and other risks at the earliest opportunity, has scooped an award at a prestigious industry showcase.

Precision was crowned as demonstrating Best Use of Data & Analytics at the FS Tech Awards 2018 held in London.

Synectics saw off tough competition at the ceremony, attended by the leading lights in the financial services technology industry and Kevin Shanahan, Synectics Solutions Chairman, was on hand to receive the award.

The win follows recent shortlisting for a clutch of industry awards and Osman Khurshid, Precision Product Manager, said the award success echoed the success enjoyed by clients in staying one step ahead of financial fraud.

Osman added: “It's fantastic to be recognised by the industry for being innovative in the way we use data and analytics. And to have proven that Precision can deliver a cost effective and scalable predictive analysis service that’s really effective at helping our clients to meet their goals when it comes to the future of fraud prevention.

“We’ve got a number of clients now taking advantage of Precision’s capabilities across the Insurance and other Finance sectors, and it’s wonderful to see these businesses using the product to solve a common problem. It really has been a great journey for everyone involved.

“In Precision's first year of operation we’ve had some great success stories, and with an exciting pipeline of deployments coming up this year we expect to see that continue.”

It was also announced this week that Precision has been shortlisted for a third clutch of industry awards in as many months.

Precision will go through to the finals in the Insurance Times Claims Excellence Awards in the Claims Technology Solution of the Year – Service Provider and Claims Product Solution of the Year categories. Plus, we’re delighted that Precision has been nominated by our client esure for Fraud Prevention Solution of the Year.

Find out more about Precision here