AXA UK collaborates with Synectics Solutions to combat insurance fraud

The collaboration will utilise Synectics Solutions’ SIRA platform to refine fraud detection and decision-making processes.

SIRA is a syndicated fraud database encompassing information from 180 organisations and a real-time quotes tool that empowers AXA UK to make informed risk decisions when handling insurance claims and applications. The platform will be employed across AXA UK’s brands, encompassing MOJA and Swiftcover.

The partnership emerges as the insurance industry witnesses escalating levels of fraudulent claims. In 2021, the UK insurance industry faced £1.1bn in fraudulent claims across 89,000 cases. AXA UK firmly believes that the partnership with Synectics Solutions will assist in safeguarding its customers from fraud and minimising its financial losses.

“We are thrilled to be collaborating with AXA UK in the fight against fraud,” remarked Richard Daley, business development manager at Synectics Solutions. “Our technology will foster a safer insurance environment for all.”

David Pearce, director of retail direct at AXA, commented: “Our partnership with Synectics Solutions represents a significant step in our commitment to tackling fraud, ensuring genuine customers are not burdened by the costs of fraudsters.”