BLM unveils new tool to tackle fraudulent claims

Specialist insurance risk and commercial law firm BLM has launched a new fraud insight tool designed to tackle fraudulent claims and help reduce costs for insurers and insureds.

The new tool, called ‘Fraud Edge’, provides comprehensive insight and intelligence on suspected fraudulent activity, helping insurers with their investigation and claims fraud handling strategies.

Ben FitzHugh, BLM’s director of intelligence said: “Fraud Edge has been designed to help clients with their strategic approach to fraud claims management by giving them the information they need to make the most informed decisions possible when it comes to a suspected fraudulent claim. It provides significant and new levels of insight on previous claims outcomes, ranging from detailed reports on every company a claimant law firm has instructed, down to the suspected ‘phantom passengers’ in motor claims.

“We believe this is a major step forward for the industry in tackling fraudulent claims, which will ultimately benefit both insurers and genuine claimants alike.”

Sarah Hill, partner and head of fraud at BLM added: “We are incredibly excited to be launching this new fraud insight tool, adding value to the detection and investigation of fraudulent activity. Clients that have already had access to Fraud Edge are reporting the benefits that this insight provides to their claims fraud handling strategies.”