Risk Management

Stress, Lies and Audio Tape

Claims fraud is a major thorn in the side of the insurance business with insurers uncovering fraudulent claims worth £1.6 Billion a year, according to the Association of British Insurers (ABI).

But now the insurers are starting to fight back against fraud by using Voice Stress Analysis Technology on customer phone calls.

Many insurance companies routinely recorded phone calls and callers tend to be clearly notified of this fact, but not all businesses using Voice Stress Analysis Technology apply it to all callers. It is only used where it is deemed necessary.

Insurance companies using Voice Stress Analysis Technology are also quick to point out those genuine policyholders and claimants can rest assured that anti-fraud strategies will help to fast track claims to settlement.

A motor insurance specialist says that, after screening almost 19,000 motor claim cases since 2002, it has successfully prevented more than £11 million of potentially fraudulent insurance claims.

February 2008