In this edition we invite you to come and discover with us as we continue our shared journey to transform key areas of our work in 2022. Read on to discover important progress on some of our key projects and the very latest information we have to share.
May 2022
The indemnity spend on claims makes up a significant portion of the overall MIB levy and we're continually striving to improve the service for our customers and control the levy for our members.
In our last Engage we shared how we'd selected Wipro as our chosen strategic partner to help us modernise MIB's data services.
We're continuing to work hard to optimise HMRC's sharing of the critical ERN data to support ELTO members.
Work on the NextGen project is entering its final stages as we prepare to go live shortly.
The exciting new fraud detection system is expected to be launched to the industry in late June.
A 'sneak peak' demonstration of the new system took place on April 26 when the Member Working Group was shown what the system looked like and given the opportunity to ask IFB and Shift any final questions ahead of the system launch.
As outlined in our last edition of Engage the IFB is carrying out a strategic market review for the new IFB Strategy that will run from 2023 and beyond.
Led by the Board and the General Insurance Fraud Committee (GIFC), key themes of the review will include the scope of IFB, defining an approach to data and fraud prevention.
A questionnaire has been sent to IFB customers to help gather the quantitative data we'll use to help guide the strategy. Thanks to everyone who has already submitted their responses to the survey which will be highly valuable.
A series of face-to-face, strategic workshops will also take place during May and early June to gather more detailed qualitative data to shape the strategy.
A presentation of the findings from this consultation will be made to the IFB Board in July.
We're confident 2022 will be a milestone year in IFB's journey to evolve to keep pace with the fraudsters that blight our industry. We'll be sharing the new strategy with our customers and the wider industry in Q3.
Consultation is underway on the IFB's next Strategic Threat Assessment (STA) to help inform the insurance industry on current and potential fraud risks.
The Government has extended its local authority e-scooter trials until November, so Engage only has a limited update on this important issue to share.
IFB Director Ben Fletcher and T/Detective Inspector Matthew Hussey of City of London Police's Insurance Fraud Enforcement Department (IFED) featured on the BBC's Crimewatch Live recently.
As part of the IFB's successful Crash for Cash campaign they urged viewers to be vigilant to these dangerous scams and come forward with evidence.
'Crash for Cash' is the increasingly common insurance scam where fraudsters invent or deliberately cause road traffic collisions, often with innocent drivers, in an attempt to gain compensation.
To learn more, please contact us at: CustomerEnquiries@mib.org.uk or find us on social media.