IFB responds to new UK fraud strategy

Ursula Jallow, Director at IFB, has today unveiled the Insurance Fraud Bureau's new counter-fraud strategy called Forward Together, for 2023 to 2025. 

Headlined as an ambitious strategy, built on an established promise, Forward Together aims to enhance innovations and keep pace with change in the world of fraud by: 

• Removing outdated, legacy technology to improve efficiency and member experience;
• Addressing and improving data quality; and,
• Reviewing how IFB's membership will work in the future, in both its legal and operating model.

Ursula Jallow, said: 

"At IFB we’re proud of the progress we’ve made in leading the insurance industry’s fight against fraud.

"Since our launch in 2006 the IFB has continually evolved, and we’ve now reached a natural point on our journey to reassess our place in the counter-fraud landscape and reset our direction of travel to more closely align with members’ needs.

"Early in 2022 we engaged with members, stakeholders and industry in a full strategic consultation. You told us, clearly and honestly, how we can best support you in the future. This has helped us shape this new strategic plan so thank you to everyone who contributed.

"Times are changing and fast, especially in our current landscape with the impacts of COVID and the broader economic crisis being felt in a number of ways. Ultimately, this means insurance fraud risk needs to be front and centre of what we do, and how we do it.

"We know our member data sharing technology is ageing and fails to match members’ expectations. We’re committed to keep pace and adapt to deliver the products, services and user experience via the modern technology that you expect.

"However to be clear, there are no silver bullets or overnight solutions to deliver these focus areas. They are complex in nature, and, in order for the IFB to be more agile than ever before, we will need full buy-in and mutual support from all our members, stakeholders and the wider insurance market along the way.

"This plan lays out a roadmap for a shared industry journey to realise these goals and the full potential of the IFB. This is a joint venture: with you, for you. So I invite you to read our plans for the next three years and work with us to help realise that shared vision.

"I look forward to working with you all, to take the IFB and industry on its next chapter, fighting the ongoing risk of insurance fraud."