Ghost broking is what keeps insurance fraud managers up at night. It’s a scam whereby fraudsters purchase insurance with false details and resell the policy to the unsuspecting victim, who is then not covered if an event occurs. Hear from Stephen Adams, Fraud Manager at Confused.com, as he shares his experience using iovation’s device intelligence solution to fight fraud, prosecute fraud rings and protect their panel of insurers. As an avid member of iovation’s insurance community, he will also share the benefits of having access to iovation’s device consortium and open community to discuss current fraud trends. Join us to learn about: How Confused.com uses iovation to tackle fraud How Confused.com protects our insurer panel The benefits of iovation’s technology and community Prosecuting a fraud ring in conjunction with another iovation client

1. Shaun Smith and Stephen Adams
How Confused.com and
iovation fight Ghost Broking

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• Stop underwriting fraud and policy abuse
• Put call centre fraudsters on permanent block
• Prevent insurance fraud throughout the customer use cycle
• Get support from experts and our fraud community
• Provide platform for insurers and aggregators to work
together to stop fraud and abuse
Insurance fraud detection and prevention solutions
created to secure insurers and their customers.
iovation and the Insurance Industry
Protect policyholders and prevent losses

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63,000,000
4,800,000
305,000
Volume of insurance transactions
Reputation reports submitted by analysts
Number of risky transactions stopped
Insurance – Last 12 Months
Transactions seen by iovation

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5. How Confused.com and iovation fight
Ghost Broking

6. Introduction for Confused.com
• The first & longest running UK insurance comparison site
• We search 116 car insurance providers to save customers money
• Based in Cardiff, South Wales
• Motor, home, travel, life, motorbike, van, pet and caravan products
• Look to save consumers money by protecting them from fraud

7. Myself
• Stephen Adams
• Fraud manager with Confused.com since May ‘18
• Formerly fraud strategist for Admiral insurance
• In the industry for 15 years

8. • Ghost brokers are fraudsters who sell drivers apparently legitimate
motor insurance
• Policies are brought from legitimate insurance companies using false
information
• Fake documents may be created to make a policy look legitimate
• They may sell insurance without setting any genuine policy up
What is Ghost Broking?

9. • The policy may be cancelled or voided
• The car may be seized by the police
• A driving ban or points on a licence
• A fixed penalty notice or fine
• Liability for any accident cause whilst the insurance was invalid.
What are the consequences for the victims?

10. • Liability for claims on uninsured cases
• Loss of revenue
• Reputational damage
• Resource and system requirements to detect and prevent fraud
What are the consequences for the insurance companies?

11. An example of a ghost broker

12. What could the policy look like?

13. • iovation activity rules
• Analytics models
• iovation device ID block lists
• Email block lists
• Telephone number block lists
How does Confused.com tackle fraud?

14. • Reducing fraudulent applications using iovation
• Collaborating with partners to share counter fraud best practice
• Collaborating with partners to find other policies of concern
• Collaborate with the Insurance Fraud Enforcement Department to
support investigations and prosecutions – often with device id data
• Support core industry counter fraud Initiatives
How does Confused.com protect our insurer panel?

15. Prosecuting fraud rings in collaboration with partners
Partner shares Fraud
ring for Confused.com
to investigate
Partner Fraud Ring
Feedback to Partner with
extra sales from the same
device for investigation
Confused.com
provided data to IFED
to aid investigation
Share other sales with 14
other panel members for
them to investigate
Provided our own
MG11 Statement and
exhibits when required
Demonstrated fraud ring was
cross industry with sanitised
overview to aid IFED referral
Partner/Confused.com
submitted IFED Referral

16. Targeting Investigations
1,554 quotes
275 personas
19 sales
506 quotes
270 personas
19 sales
44 quotes
16 personas
2 sales
IPhone seen
Q4 2017
IPhone seen
Q1 2018
IPhone seen
Q3 2018

17. The benefits of iovation’s technology and community
• iovation device ID data which can be used with personal data
• iovation Rules which can be used at multiple touchpoints including:
• Point of quote
• Point of inception
• documents portal to catch data (for customers who inception by phone)
• mid term changes
• Claims forms
• Sharing of best granular evidence with other iovation subscribers

18. Intelligence Console and Business Rules Editor
• Flexible and easy business rules
• Can set rules with a zero weighting to test without effecting business
• Can set multiple rule sets which are easily interchangeable
• Roles and permissions for users
• Evidence added either individually or in an easy use batch upload

19. Summary
• iovation is one of Confused.com’s primary fraud tools
• Enables Confused.com to give better quality of business to its
insurer partners reducing fraud rates
• Collaboration with other iovation subscribers protects the wider
insurance industry

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Q&A

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Shaun Smith – Insurance Subject Matter Expert, EMEA
+44 (0) 7872 308 013
shaun.smith@iovation.com
https://www.linkedin.com/in/shaun-smith-0ab7791a/
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