The Insurance Fraud Bureau (IFB) announces that Swinton has agreed to become affiliated to the IFB. Swinton is the first company to take advantage of an offer made a week ago by the IFB, for brokers to join the IFB industry collective, by way of a newly created broker affiliate model.
The ‘IFB Broker Model’, launched on 27 September 2011, enables brokers to work closely with the IFB and its insurer and compensator partners, to prevent fraud in a collaborative manner.
The model is aimed at larger retail brokers with dedicated counter-fraud resources. In 2012 the IFB will also be exploring with the British Insurance Brokers Association (BIBA), how the Bureau could potentially cater for the wider broking market.
The affiliate broker model includes the two-way sharing of fraud intelligence and support provided by the IFB.
Creation of the model is in recognition of the importance of tackling fraud in distribution channels, and in response to interest displayed by brokers to work with the IFB.
The IFB engaged with BIBA, the Institute of Insurance Brokers (IIB) and the Chartered Insurance Institute (CII), to communicate the affiliate model to the broking community.
Glen Marr, IFB Director comments:
“With the IFB already successfully working closely with insurers, compensators, Police forces across the UK, regulators and agencies, we’ve long held the view that bringing brokers into the IFB fold is a logical step. Our dialogue with brokers has reinforced this”.
“We positively welcome Swinton and look forward to embracing further brokers in our work to prevent fraud, helping protect insurers and consumers, and further demonstrating that the industry is intolerant of fraud”.
Jon Howells, Head of Credit & Fraud, Swinton comments:
“Swinton recognises that as a leading intermediary, we have a duty to take preventative steps to stop parties gaining cover from insurers with the view to facilitating fraud. We feel passionately that genuine customers should not be penalised for the actions of fraudulent activity. To that end, Swinton have dedicated considerable resource specifically to counter the threat to the Group and our panel members. We are looking forward to working very closely with the IFB in order to reduce insurer risk and disrupt potential fraudsters as much as possible.”
