The partnership builds on GoCompare’s existing efforts to tackle front-end fraud, having joined as members of Cifas, the Insurance Fraud Bureau, and partnering with Iovation and Featurespace, to create an award-winning fraud solution which incorporates real-time machine-learning to spot anomalies, block new fraud, and recognise genuine customers.
For insurers and brokers quoting through GoCompare, the extensive suite of fraud detection and prevention tools available will enable customised, real-time risk management, reducing the burden on their own fraud teams.
Fleur Lewis, head of fraud at GoCompare, said: “We’re thrilled to announce our partnership with CDL, and our bespoke enrichment service will allow CDL partners to implement fraud and behavioural insight controls at point-of-quote through our website.
“These capabilities enable insurers and brokers to assess the risk in real-time and either decline the business or price accurately to ensure all parties are suitably protected.
“We’re very aware of the important role we play in the prevention of fraud for the industry and we believe it’s our duty to ensure our solution is easily accessible for all partners, so being able to offer our anti-fraud services through CDL will strengthen our ability to do just this.”
Nigel Phillips, commercial director for CDL, said: “We are delighted to have supported GoCompare to go live with this new enrichment service, which is a first in the aggregator space and gives brokers greater control over the quality of business they secure.
“Online fraud is an ongoing challenge for the sector, and this is a positive development to give brokers additional insight into their risk exposure and enable them to make business decisions accordingly.”
Adam Powell, CEO of SureThing, an insurance partner of GoCompare and CDL commented, “Fraud is a huge issue in our industry and it’s brilliant to partner with Go Compare and CDL to try and fight it at the source. The protection this solution offers us at point of quote is invaluable. It not only allows us to provide customers with the right price for the right risk but also gives us behavioural insights to help understand our customers even better.”
For further information, including pictures or interview requests, please contact:
Anders Nilsson - 01633 654 054 / anders.nilsson@Gocompare.com
Gordon Maw - 01603 505 845 / firstname.lastname@example.org
T: 07810 873 487
CDL has established its position as a market leader in the highly competitive retail insurance sector by consistently creating powerful software solutions that deliver competitive and innovative advantage to our customers.
CDL's anti-fraud solutions deliver an armoury of technology tools that work at point-of-quote to identify inaccurate information, detect devices with a history of fraud or tap into a host of additional data sources that help retailers assess propensity to claim or default on payments. These, combined with real-time pricing capability, give retailers greater control than ever before over the type of business they acquire.
GoCompare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.
GoCompare does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. GoCompare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. GoCompare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
GoCompare is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).