GoCompare launch industry first
New fraud enrichment service
15th July 2020GoCompare becomes first comparison website to partner with CDL to launch point-of-quote fraud enrichment service.
One of the UK's most established comparison websites, GoCompare, has partnered with CDL to create point-of-quote anti-fraud measures for GoCompare and CDL partners.
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."