8th March 2017

Carrot Insurance becomes member of the IFB

Carrot Insurance, part of Trak Global Group, has become a member of the Insurance Fraud Bureau in a move that will see both parties sharing data with one another.

Carrot Insurance will now use IFB products to prevent application fraud and will provide the bureau with data to identify insurance crime.

By using the IFB’s application fraud products, Carrot will be able to gather intelligence to tackle fraud at the point of sale.

Carrot will provide the bureau with data which will feed into these products, offering up information on ghostbroking, and misrepresentation on insurance policies.

Tim Spreadbury, head of claims at Carrot Insurance, said: “Insurance fraud is a big concern for any broker and we’re delighted to have the opportunity to be able to share our telematics data with the IFB.

“This will be a strong partnership that will help us to approach the problem early in the quote process, saving time and money across the business.”

The IFB’s broking membership allows wide-scale sharing of information on fraud which will later be communicated to insurers, promoting a collective effort to fight fraud.

Ben Fletcher, director of the IFB, said: “It is important that we view fraud holistically which means that every organisation is able to play their own role in tackling insurance fraud.

“Detecting and disrupting fraud relies on access to good quality information and the IFB’s position at the heart of the issue, with unrivalled access to industry, law enforcement and other regulatory data, is further strengthened with Carrot’s contribution.”