Increasing Credit Hire Fraud Drains Insurer Profits
Rampant credit hire fraud is plaguing the insurance industry, costing insurers over £1 billion annually. This persistent problem, made worse by fraudsters’ increasing sophistication, is draining insurer profits and driving up premiums for policyholders.
Mitigate fraud risks and enhance claims handling
Our Claims Investigation Unit (CIU) quickly detects and fights fraudulent credit hire claims, analysing each claim with AI and expert knowledge to spot fraud patterns and indicators, protecting you throughout the process.
Fraud detection and prevention
CIU tackles credit hire fraud with cutting-edge tech, expertise, and intelligence, saving insurers money.
Enhanced risk assessment
CIU's intel database arms insurers with risk insights to make informed decisions and mitigate fraud.
Efficient claims handling
CIU's proprietary tools, such as AskLudo™ and ANPR, expedite fraud detection, speeding up claims resolution.
Features and capabilities
Fraud detection
Verisk's CIU utilises advanced tech and expertise to combat credit hire fraud, investigating areas like adverse ANPR exposure, phantom hire, overlapping hires, artificial exaggeration, and fraudulent storage, recovery, and engineering.
Subject matter expertise
A team of highly skilled investigators comprises the CIU, bringing cross-market exposure to pre- and post-litigation intelligence and providing comprehensive expertise in fraud detection and prevention.
Intel database
Verisk maintains extensive intelligence data of more than 14,000 entities, each assigned a risk rating. It currently holds over 5,000 Red Risk entities and associated intelligence, aiding in the identification and assessment of potential fraud risks.
Simultaneous hire database
AskLudo™ is Verisk’s award-winning anti-fraud tool used to identify overlapping periods of hire across all verify™ claims, helping to uncover potentially fraudulent activities.
Anti-fraud toolset
Verisk's CIU can access a range of market tools to validate vehicles, individuals, and organisations involved in a claim.
Automatic Number Plate Recognition (ANPR)
Verisk gathers ANPR data from more than 1,200 sites across the UK, capturing over ten million vehicle registrations weekly. We use this data to validate or repudiate hire, damage, storage, and recovery claims.
Do more with the Verisk ecosystem
Learn more about our full suite of claims solutions that provide compliance, claims development, and further fraud analysis tools. 
Optimise credit hire claims management
Let our expert team and innovative technology handle all aspects of credit hire claims, from analysis and settlement to liability resolution, hire management, and subrogation.
Streamlined subrogation and expedited settlements
Transform subrogation and accelerate claim settlements with this cloud-based, SaaS platform.
Intelligent image analysis to expedite motor damage claim triage
Automatically triage motor damage claims into repair or total-loss workflows in seconds.
Real-time vehicle recovery alerts for insurers
Know when a customer’s vehicle is recovered by police after a road traffic collision or a theft.
Get in touch to learn more or book your demonstration
For product information, technical support or questions our team is available Monday through Friday, 8 a.m. - 5 p.m. GMT (except Bank Holidays, Christmas Day and New Year’s Day).
UK Contact Number:
+44203 8084265
