SIRA offers a fully integrated fraud detection and prevention solution which can help you to maintain the trust of your customers, assist you in achieving regulatory compliance needs and help reduce your loss values.
Enrich your intelligence with multiple data sources
As well as having access to the syndicated National SIRA database, SIRA has the ability to be integrated with a variety of third party data sources. By integrating additional data sets such as ID verification services, PEPs and Sanctions data as well as renowned services such as Cifas and CRIF you can increase the level of sophistication in your fraud screening process to enable you to identify more potential risks.
Combine enriched data with organised workflow
The sophisticated workflow management module and task referral capabilities of SIRA enable you to profile, rank and prioritise referrals or investigations in an optimal way to enable your fraud investigations to deal with an ever growing case load of investigations.
Benchmark your exposure to adverse activity
As a SIRA client you will have access to numerous analytical services, enabling you to benchmark your exposure to fraud across your business sector. This can help you to identify whether there are any weaknesses in your business processes and determine your best course of action.
Fully configurable for business specific situations
Here at Synectics Solutions we understand that no business is the same. That is why the SIRA product can be customised to fit your exact business model. Rather than tailoring your business to fit a standalone product, we can personalise SIRA to fit your requirements.
Insurer’s use of NFI data within SIRA recognised for excellence at industry awards
In a first-of-its-kind collaboration, Synectics Solutions, alongside its partner the Cabinet Office and client QBE trialled the use of National Fraud Initiative (NFI) Data within SIRA.
It is the first time that NFI data has been used within the private sector to combat fraud. Even so, the innovative collaboration was recently recognised for its excellence at the Insurances Times Awards, winning in the category ‘Excellence in Technology – General’.
QBE are the first insurer to access NFI intelligence via SIRA and by exploiting NFI data matching capabilities, they saw a 45% uplift in the identification of potential fraud. The results have yielded a positive response amongst our clients who are interested to see how NFI data can help their ability to combat fraud.
With an ever-increasing focus on risk in both policies and claims environments, it’s becoming more important for insurance operators to safeguard their businesses and customers against the threat of criminal activity.
There are over 22 intelligence sources within the NFI data which could significantly enhance your ability to profile customer applications. These include:
- Home Office Immigration Data
- Public Sector Payroll
- Housing Benefit Claim Data
- State Benefit Data
To find out more about how NFI data can be used within your fraud defences or to understand the various scenarios that NFI data can help protect your organisation against, please contact your SIRA Relationship Manager, call
0333 234 3411