BVRLA and Hill Dickinson launch counter fraud initiative

BVRLA and Hill Dickinson are partnering to undertake an analysis of insurance claims fraud within the self-drive hire sector. 

Findings will be used to create a solution to manage future risk and support the detection and prevention of fraudulent claims. 

The initiative builds on previous analysis undertaken by Hill Dickinson in 2014 with the support of its key rental sector clients, which highlighted significant cross sector fraud.

All BVRLA members have been asked to provide their 2014 claims data to Hill Dickinson. 

A Netfoil Rental database will be created specifically for the initiative. 

Tailored mass data analysis will be used to interrogate this intelligence and the 10.5 million claims records held in Hill Dickinson’s Netfoil, the largest relational claims database in Europe.

Each rental company will receive a case by case assessment of its 2014 claims experience, together with the ability to benchmark individual counter fraud arrangements against the industry. 

The study will identify branch specific or process issues to allow renters to focus on fraud prevention, as well as improving detection rates. 

Open claims linked to fraud will be identified together with recovery opportunities on those cases closed where fraudulent or high risk claims have already been paid. 

Combined research findings will outline areas of focus for the rental industry providing a clear insight into the scale and nature of the fraud problem. 

Fraud rings, accident management companies and serial claimants targeting the industry will be identified, together with regional hot spots. 

Detailed profiling of fraudulent renters and policyholders will be generated together with risk profiles for associated COI business; driving future detection and prevention.

Gerry Keaney, BVRLA chief executive, said: "This data-sharing initiative is an excellent opportunity to gain a greater understanding of the size and scope of fraudulent insurance claims in the daily rental industry and any trends that are emerging.

"By sharing historical information with Hill Dickinson, the rental industry can make further gains in reducing its risk profile and lowering insurance premiums.”

Peter Oakes, head of fraud at Hill Dickinson, said: “The self-drive hire sector is a favourite target for opportunist and organised fraudsters looking to use rental company vehicles and insurance policies to facilitate substantial claims for fake injuries, credit hire, storage charges and vehicle repairs arising out of staged and induced accidents.  

"We are delighted to be partnering with the BVRLA to support rental companies in defeating the fraudsters eroding their profit and endangering other road users.”

BVRLA and Hill Dickinson will publish the research findings in May 2015.  Rental companies wishing to participate in or find out more about the initiative should contact Dan Sanzeri (dan.sanzeri@hilldickinson.com) at Hill Dickinson  or Nora Leggett (nora@bvrla.co.uk) at BVRLA.