MIB encourages insurers to get on board CUE Travel
21 September 2017
The Claims and Underwriting Exchange (CUE) has been expanded to accept data relating to travel insurance claims, enhancing the industry’s ability to tackle fraud.
This follows on from the Insurance Fraud Taskforce (IFT) report in 2016, where it recommended that insurers develop the capability to access a wider set of data to enable them to combat fraud together. The work to create CUE Travel now gives insurers the visibility they need.
Currently, CUE’s centralised database holds more than 35 million records about incidents and claims reported to insurers across: motor, home and personal injury/industrial illness.
CUE Travel will be the first central database of the industry’s claims and notifications for travel insurance policies, both personal lines and business policies. It has been developed to allow insurers to validate a policyholder’s travel claims history for both claims management and underwriting purposes. Initially, CUE Travel will be available at the point of claim, with plans to expand into point of quote. In the future, insurers may also be able to carry out a search across all the CUE product categories on one platform.
Kaushik Patel, Head of Data Services at MIB explains, “The fight against insurance fraud relies heavily on quality databases, such as CUE, and the expansion into the travel claims category enhances the industry’s capability even further. We encourage insurers to take advantage of this new service, which gives them the central ability to load and enquire about incidents and claims, and share data with other insurers to combat fraud.”
Insurers can make the most of this new platform by requesting a CUE subscriber pack by contacting CUETravel@mib.org.uk