Global pioneer of telematics-based car insurance, Insure The Box Limited, has won Combatting Fraud – Technology Initiative of the Year in the prestigious Insurance Fraud Awards 2016.
London, 7th October 2016 – Following the announcement at last night’s ceremony at The Brewery in the heart of the City of London, Adrian Steele, Group Claims Director for Insure The Box said: “We are absolutely thrilled to have won the Technology Initiative category in these acclaimed Awards. We regard this as an immense achievement given the very strong competition we faced and the calibre of industry experts selected from the legal and finance professions as well as IFED, the ABI and Met Police who made up the judging panel.
Mike Brockman, founder and CEO of Insure The Box added: “This award gives me particular satisfaction and pride since this is a real team effort that has come after many years harmonising our unique technology into the Claims Departments. Insure The Box is a leading innovator in tackling insurance fraud, using our unique insights gained over the past 6 years and nearly 3 billion miles of driving data to identify fraud and pursue those who attempt to defraud us. This has most recently been evidenced in several ground-breaking cases where the veracity of our telematics data has helped to dismantle claims being brought against our policyholders and defeat fraudsters.”
In the latest case, Insure The Box Limited became the first insurer to successfully use its telematics data in defence of a policyholder in a liability case that went to Court. It was the strength of evidence supported by the interpretation of telematics data that proved the policyholder’s case, in stark contrast to the third party’s version of events, that enabled Insure The Box to defend proceedings issued against its customer.
In another recent case, Insure The Box identified and successfully defeated a highly complex fraud ring involving 31 claims. The telematics evidence, indicating that collisions did not occur or did not occur where they were said to have occurred, successfully stood up to lengthy examination.
Finally, three members of the same family, and a number of their associates, with a string of prior personal injury motor claims, were forced to discontinue their ‘staged accident’ claim for a total of £500,00 when the Insure The Box telematics device fitted to the other car with which they had the collision helped disprove their version of events.
Notes to Editors
Insure The Box
Insure The Box Limited launched in June 2010 with its first product; insurethebox, and is the UK’s largest telematics (or black box) insurance provider, now holding almost 3 billion miles of driving data and associated claims. As well as insurethebox and drive like a girl (another Insure The Box brand) it also administers other telematics offerings. Aioi Nissay Dowa Insurance Company of Europe Limited (ANDIE), subsidiary of Aioi Nissay Dowa Insurance Company Limited and part of the major Japanese insurance group MS&AD Holdings, Inc., acquired the majority stake in Box Innovation Group Limited (which is the 100% owner of Insure The Box) in March 2015. Together they are taking a leading role in the development of technologies that will change the face of motor insurance and the way we view the car.