Tackling the growing concern around travel insurance fraud
Travel insurers should sign up early for CUE Travel to help combat the rising threat from fraud.
After years of talking about it, the CUE Travel product has now arrived. In response to concern that fraud within the travel insurance sector is increasing, CUE Travel has been launched as an additional product line within the Claims and Underwriting Exchange (CUE).
CUE already delivers an invaluable tool in the fight against insurance fraud and I’m encouraged to see the level of early interest in adopting CUE Travel.
As the industry continually improves its counter fraud activities, this is another step in meeting the Insurance Fraud Taskforce (IFT) recommendations on data sharing and fraud prevention.
With more than 35 million records of home, motor and personal injury/industrial illness claims and incident reports, CUE is used extensively for both claims management and underwriting on those product lines. Extending this capability to travel insurance is an essential component in fighting the growing trend for fraud in this area.
For the industry to truly benefit from this new data service, travel insurers must get on board. The new service gives insurers the ability to load and enquire about incidents and claims and share data with other insurers to combat fraud.
The more records CUE Travel holds the more valuable it will be to insurers and the industry as a whole. So, I would urge insurers to make the best of this new platform and sign up early.
More information and subscriber packs are available from CUETravel@mib.org.uk.
Ashton West OBE
Follow me on Twitter @AshtonWestMIB