Allianz partners with voice analytics tool Clearspeed to tackle fraud
Allianz’s personal lines business has reported a 29% increase in fraud prevention in 2023 compared to the previous year
Allianz has announced a new partnership with AI-enabled voice analytics provider Clearspeed, seeking to leverage its fraud detection methods while accelerating its ability to process legitimate customer claims in the UK.
The move comes as the insurance industry witnesses a evolving fraud tactics. A growing trend named ‘crash for cash’ signifies the widespread nature of the technology-fuelled threat; a byproduct of the rise of ‘shallow fakes’, these scams use manipulated images, videos, and documents to pursue false claims.
According to Allianz, cases where apps were used to distort real-life images, videos and documents increased by 300% from 2022 and into 2023.
Ben Fletcher, Director of Financial Crime at Allianz’s personal lines business, said: “Our increased fraud detection rate in 2023 reflects how seriously we take this issue and our partnership with Clearspeed is the next step in our ambitious plans to enhance our fraud prevention measures. I look forward to a collaborative and effective partnership to further prevent insurance fraud and crime.”
Clearspeed CEO Alex Martin added: “Allianz is a world-class organisation, and we are thrilled to announce our partnership with them as we expand our footprint in the UK insurance market.
“In an increasingly complex risk environment, with accelerating customer experience expectations, there has never been a better time to reimagine the claims process.”
This month, Allianz Partners Australia introduced instant online chat for HCF travel insurance customers.