The new contract utilises Equifax Insurance Insights which, by combining permissible credit file information with claims and identity data, is designed to enable insurance businesses to improve customer management and retention while reducing the risk of fraud.
The Cotswold Group will be able to access claims insights, including data from the claims and underwriting exchange, which has been enhanced with Equifax alias data and address links to identify previous addresses for claimants to provide accurate identity verification.
Gareth Mussell, head of intelligence at The Cotswold Group, said: "We need to be able to make fast, reliable decisions that benefit our clients and Equifax Claims Insights is a perfect addition to our already diverse platform of intelligence sources. The highly accurate data matching means we will be able to make better informed decisions on potentially fraudulent insurance claims. This has obvious benefits for our clients in reducing the financial impact of fraud. It also means that we can ensure honest customers' cases are processed with the minimum of delays."
John Marsden, fraud and identity expert at Equifax, added: "A number of services on the market offer solutions that address one or other aspect of the insurance customer lifecycle. Equifax Insurance Insights is unique in that it provides insight from permissible consumer credit file information and claims activity. Combined with our analytics expertise, this means Equifax can provide a truly integrated solution across all aspects of the insurance customer relationship."