Charles Taylor, a provider of claims and technology solutions to the global insurance market, has acquired a majority stake in Fraud Keeper.

Charles Taylor said the partnership will see it ‘join the artificial intelligence battle against fraud’.

Fraud Keeper is described as a cutting-edge SaaS platform based on automation and artificial intelligence that helps insurers detect, prevent and manage fraudulent transactions in real time. 

It also fast-tracks genuine claims, includes automated claims payment functionality and links to external data sources to gather additional insights.

The technology can also support smart risk selection and churn prediction with new customers, as well as providing insights to insurers to up-sell and cross-sell relevant products to their existing customer base.

Based in Argentina with a presence in Spain, the partnership will enable it to take its technology to new markets and client situations globally.

“This is a significant step in our strategy to invest in innovation that helps our insurer clients compete in today’s fast-moving market,” said Lautaro Mon, chief product officer at Charles Taylor InsureTech. 

“The Fraud Keeper technology, combined with our own market-leading suite of products, will be a game-changer for insurers in the fight against fraud.”

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Daniel Gabas, Chief Executive Officer, Fraud Keeper, said: “We are delighted to be working with Charles Taylor and this new partnership will enable us to scale the business globally.

“Our proven technology, combined with Charles Taylor’s products and services, will enable us to offer our clients true end-to-end solutions. We look forward to leveraging Charles Taylor’s technology and expertise in the insurance sector to create a world-class proposition for clients.”