Major legislative reform in volume work and Covid-19 created the perfect landscape for claims farmers to exploit claims for financial gain. DWF's investment in a specialist farmed fraud team, meant that they were quick to respond. Working with customers to identify migration of known farmers and providing counter strategies, has led to DWF providing best in class results and recognition for innovating during a pandemic, saving clients £10 million in 2019/2020 alone.
Using data analytics, DWF analysed the migration of farmers, AMCs and umbrella organisations dealing with motor claims through to casualty, due to the unintended consequences of the Whiplash Reforms and Covid-19. The strategic intent was to lead the way in disruption techniques to tackle adverse farmers' behaviours, therefore, the team used this data to:
- Leverage data and profile drivers, identifying those entities setting up with intention to fuel Covid-19 claims, earning substantial revenue.
- Developed counter strategies, for defeating the claims.
- Designed a Covid-19 Router, which identified valid claims from fraudulent/farmed claims at source.
- Enabled customers to route claims to the teams with the right skill set, along with appropriate strategies to defend the claims, thus reducing indemnity spend.
- Disrupted farmers' behaviours.
The Insurance Times judges said that DWF were: “Well presented, relevant, flexible and clear; we loved all the 90’s references to New Kids on the Block and that they looked at both Covid-19 and whiplash reforms.”
Jewels Chamberlain, Fraud Partner:
"I am absolutely delighted with this award. For over ten years, we have collaborated with clients on this initiative, with our use of intelligence, analytics and legal strategies, ensuring that we are on the pulse with innovation and achieving immense savings for our clients. I am very proud of our multi-disciplinary team and this award. "
This is the third award win for the DWF Counter-Fraud team in the last two weeks. To read about our two wins at the Insurance POST Claims and Fraud 2021 Awards, click here.