The Credit Hire Organisation, the trade body for the UK’s credit hire sector, has commissioned Percayso Inform to build an anti-fraud platform for their members.
Percayso, headquartered in Nottingham, recently ranked in third spot on our InsurTech 50.
Anthony Hughes (pictured), chairman and CEO of the CHO, said the new platform will fill a gap in the industry’s anti-fraud arsenal.
He said the deal underscores “our strong commitment to countering fraud, both in the credit hire industry and across the wider motor claims supply chain”.
A number of credit hire companies have signed up to the platform amid “plenty of interest in the concept”, according to Hughes.
He explained that subscribers will use the technology to screen claims in order to manage and identify fraudulent activity, supporting the CHO’s objective to combat fraud within the industry.
“Our members tell me that fraud is one of their biggest headaches, some of our larger members employ full time anti-fraud teams, and there is a lot of voluntary, informal information sharing across the sector, but we do need a fully-functioning intelligence and data platform, and Percayso came up with a great option,” he added.
Ian Lilley, head of partnerships at Percayso, said: “This is a great opportunity to work with the CHO and deliver a bespoke counter fraud platform for the credit hire sector.
“This project is an evolving platform that will grow with and respond to the collective needs of CHO subscribers, with potential for additional data sources and anti-fraud measures to be introduced from elsewhere in the motor insurance industry.”
InsurTech 50 – UK’s most innovative insurance tech creators for 2023