London, June 12, 2013
Counter Fraud Intelligence in One Click from CRIF
CRIF Decision Solutions Ltd (CRIF) today launches ‘Sherlock’ a desktop, case driven investigation tool for the insurance industry. Designed to deliver counter fraud intelligence to investigators in one click, Sherlock can be utilised whenever fraud is suspected.
An easy to use, web based application, accessed via individual user ID and password; Sherlock provides a single point of access to best of breed data sources. Users can run real time, interactive investigations and receive the consolidated results on a single screen and in the case summary report.
To create a new case and begin an interactive investigation session, users enter the relevant reference number. Sherlock interrogates data sets incorporating ID verification, consumer intelligence on 40 million claims records and 27 million linked addresses to produce a user friendly and straightforward summary report enabling users to swiftly identify areas of risk warranting additional investigation. Sherlock provides the ability to rapidly drill down further, running additional checks on linked individuals, third parties and linked addresses thought the network analysis facility which allows a graphical representation of connections between subjects.
Available information and validation tools include, vehicle checks, passport verification, landline and mobile number checks, CCJ and bankruptcy details, utility bills linked to addresses, enriched with alerts on death records and PEP & Sanctions.
Web based and menu driven, Sherlock requires no investment in technology or staff training and provides organisations with flexibility and transparency via its ‘pay per click pricing model’. Users can print and download their case reports, as well as benefit from comprehensive audit trails of the investigations undertaken enabling users to review details on previous activity.
Commenting on the launch of Sherlock, Sara Costantini, Director at CRIF Decision Solutions Ltd. said: “The role of data in insurance investigations is increasingly pivotal, but access to and interrogation of data sources can be costly and time consuming requiring multiple licences and users to log in to numerous data provider systems before manually combining and analysing all the results. We anticipate Sherlock will deliver significant time and cost efficiencies to the market, reducing investigation times by circa 30% and controlling costs via the ‘pay as you go’ model. There is a compelling business case for data supported decision making in insurance investigations and we developed Sherlock to assist the industry in taking full advantage of the data sources available, both now and in the future, to protect and grow the bottom line.”