AXA UK partners with Synectics Solutions
AXA UK has partnered with fraud detection/prevention company Synectics Solutions.
Synectics Solutions offers a suite of solutions to enhance AXA UK’s fraud prevention measures, including a syndicated fraud database from 180 organizations. Its Real-time Quotes tool enables AXA UK to use National SIRA data, when trading on aggregator websites, to make better risk decisions. The SIRA platform includes Outcome Orchestration, which creates an automated and intelligent way of dealing with applications by refining decision making.
AXA UK selected Synectics Solutions following a rigorous process, where the two organizations collaborated on a proof of concept that combined syndicated data with AI. The proof of concept demonstrated improved fraud detection and importantly speeds up the identification of fraud, helping reduce fraud costs.
“We are thrilled to collaborate with AXA UK in the fight against fraud. Our technology, combined with AXA UK’s commitment to security, will lead to a safer insurance environment for all stakeholders.” – Richard Daley, business development manager at Synectics Solutions.
“Our partnership with Synectics Solutions signifies a further step forward in our commitment to tackling fraud. We believe that this strategic investment becomes increasingly important as the industry is facing increases in claims’ costs and by reducing fraudulent activity, we can ensure genuine customers don’t have to pick up the costs of fraudsters.” – David Pearce, director, Retail Direct at AXA.