Insurance & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


11:02 AM
Connect Directly

Nationwide Continues Buy Strategy, Adding Detica NetReveal for Fraud

The software "networks and scores related entities and records within a company’s data to expose networks of suspicious activity," according to a statement

With insurers desiring to take advantage of "big data" and analytics to reduce the amount of money lost to claims fraud, industry observers have debated the relative merits of buy vs. build for that kind of software this year.

Nationwide has not been shy, despite its size, to buy packages for its IT needs, recently selecting Guidewire's insurance suite for its core systems. It has come down on the buy side of this issue as well, selecting Detica's NetReveal claims fraud detection software

"Historically challenged to effectively contain fraud and leverage growing amounts of data from multiple systems, insurers of all sizes are deploying sophisticated analytics solutions such as Detica NetReveal to help identify potential fraud. This allows them to allocate and prioritize valuable resources where most needed. These solutions are proving very effective at identifying fraud, which further benefits carriers and their policyholders," commented Aite Group senior P&C analyst Stephen Applebaum.

Other tier-one Detica clients include AXA and Zurich.

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

Register for Insurance & Technology Newsletters