Photo: Left to right - Yvonne Addison (Head of Operational Delivery, National Fraud Initiative), Karen Powell (Synectics Solutions Head of Client Operations), Craig Harris (Synectics Solutions Business Development Manager), Emily Glass (QBE Claims Analyst), Kevin Shanahan (Synectics Solutions Chairman), Richard Wood (Synectics Solutions Business Development Director), Jon Radford (QBE SIU Claims Manager), Matt Gilham (esure Head of Financial Crime) and Osman Khurshid (Synectics Solutions Business Development Manager).
Synectics Solutions is celebrating after winning a prestigious national award in the insurance sector for its excellent technology.
The data solutions and software development company has landed the Gold ‘Excellence in Technology - General’ prize at the Insurance Times awards.
In a first-of-its kind collaboration, Synectics Solutions, along with its partner the Cabinet Office and client QBE, has developed a ground-breaking pilot project to help with fraud detection.
Winners were announced at a showcase ceremony at the Intercontinental o2 hotel in London on Thursday 6th December 2018 and the awards recognise and celebrate excellence and innovation across the UK insurance sector.
Categories were judged by independent panel of experts from across the insurance industry and Synectics fended off the challenge of some key UK players in insurance technology for the award.
The ‘Excellence in Technology – General’ category recognises initiatives and solutions that improve internal and external operational and administrative processes for UK based service providers.
The initiative has trialled the use of the Cabinet Office’s National Fraud Initiative (NFI) data within the Synectics SIRA database - a fraud defence and financial crime intelligence solution to fight fraud.
QBE are the first insurer to access NFI intelligence via SIRA and by exploiting NFI data matching capabilities, it saw a 45% uplift in the identification of potential fraud.
Synectics Solutions Head of Public Sector Mark Sanders said: “We’re delighted to win this award and this is a fantastic achievement for all the teams involved. The award underlines the quality of the collaboration with both the Cabinet Office and our client QBE and it’s excellent to see how SIRA has benefited the National Fraud Initiative.”
Synectics Solutions work with over 30 high street insurance providers, brokers, managing general agents and third party administrators to help reduce risk, meet regulatory commitments and provide a positive customer experience.
The company provides expertise on risk analysis, quotes screening and ID verification combined with a wealth of data sources and skills to develop technology solutions tailored for individual companies.
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.