SynID to help insurers digitally approve more genuine customers

SynID combines unique fraud screening datasets with strength-scored identity and activity history attributes. It uses authoritative evidence from public and private sector data sources, including the National SIRA.

In less than 5 seconds, SynID can check address and date of birth details, flag ID fraud indicators, and assess the frequency, recency, and quality of an individual’s digital interactions with organisations. This helps to validate ID and assess the risk of fraud.

An interactive risk profile dashboard shows all ID attribute scores and assurance levels, giving insurers the information they need to decide on onboarding new customers and processing claims.

Chris Lewis, Synectics’ head of solutions, said: “SynID is fast and simple to use, yet incredibly robust. Because it mines data from multiple authoritative sources rather than one or two and assesses ID attribute strength, validity, identity fraud risk and activity history, the potential for false positives is greatly reduced.”

SynID is expected to help insurers improve the customer journey and reduce fraud. Several leading providers in the UK are already using it.