RSA Ireland has entered a three-year commitment with BAE Systems to adopt its NetReveal counter-fraud technology.
BAE Systems’ NetReveal platform allows insurers to detect, investigate, and prevent fraud, while minimising the impact on genuine claimants. For RSA Ireland, this will specifically include utilising NetReveal’s advanced analytics for property and casualty claims.
Read more: Zurich UK armours up against insurance fraud
In a statement, RSA Ireland said that the deal supports its commitment to “invest in capability and technology to combat insurance fraud and protect our customers and shareholders.”
“At RSA Group, the majority of claims that we deal with are genuine,” said Catherine Hanley, claims director at RSA Ireland. “This investment in technology demonstrates our ongoing commitment to combatting fraud. We are excited to work with BAE Systems, who are a longstanding global partner of the RSA Group with a proven track record of success. Most importantly, we’re happy to be investing in safeguarding our customers from fraud.”
“Insurance fraud is often thought of as a victimless crime, but it ends up being paid for by honest policyholders,” said Dennis Toomey, global director of counter-fraud analytics and operations at BAE Systems. “RSA Group is a global leader in fighting fraud, so we are thrilled to be expanding our partnership to incorporate their Irish business and continue to collaboratively identify new threats and develop cutting-edge solutions for the advanced fraud market.”
