Igo4 is identifying suspicious activity and declining to quote on over 200,000 quotes a week, chief executive Matt Munro has confirmed to Insurance Age.
The broker went live with a bespoke system including a fraud algorithm in January 2018 and said that it had seen success over the course of the year.
Igo4 detailed that the new tools identify in real time if someone is attempting to purchase multiple policies under different names or engaging in suspicious activity when generating online
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018
- Consolidation opens up opportunities, says Romero boss
- Ghost broker jailed for two years
- Up to 275 jobs at risk at Axa XL in the UK