Marshmallow is the latest insurer to join the Insurance Fraud Bureau (IFB) membership and be at the heart of the industry’s collective fight against fraud. 

The purpose-driven insurer helps hundreds of thousands of UK newcomers get a fairer deal on their motor insurance every year, and preventing and disrupting fraud plays a key role in supporting their mission to bring down costs for customers.  

Marshmallow will now utilise its partnership with the IFB to build on its counter-fraud strategy and collaborate further with the wider industry, to take an even tougher stance against fraudsters. 

Ash Jackson, Head of Fraud at Marshmallow, said:

“Becoming members of both the Insurance Fraud Bureau and the Insurance Fraud Register is a significant milestone for Marshmallow, demonstrating our commitment to disrupt fraud at an industry level. We have become members at an exciting time as the IFB are making great strides to transform their services to meet the needs of the insurance market. We look forward to integrating these services into our processes and platforms, as well as collaborating across the industry in the years to come."

Ursula Jallow, Director at the IFB, said:

"We're really pleased that Marshmallow has teamed up with us. Marshmallow will see their counter-fraud defences become even stronger through access to industry-shared insights, but equally by having Marshmallow's insights, we're helping the wider industry's focus on reducing insurance fraud risk and protecting innocent members of the public." 

The IFB coordinates intelligence sharing and cross-industry investigations to help bring fraudsters to justice. Since launching in 2006, the not-for-profit organisation in collaboration with its members have helped to secure over 1,300 arrests, 670 convictions and a total of 600 years of prison time for scammers.

The IFB is also broadening its membership and affiliate model so its vital counter-fraud services can be available to the wider market.

Fraud is estimated to cost the insurance industry over £2 billion a year, with tens of thousands of fraudulent claims detected annually.

As the nature of fraud continues to evolve and becomes increasingly complex, Marshmallow’s partnership with IFB means they will be best placed to stay on top of new ways criminals, scammers and opportunists work to defraud companies and innocent people.  

Utilising IFB’s insights and counter-fraud technologies will support Marshmallow’s mission to continue offering affordable prices for those moving to the UK.  

Marshmallow is Europe’s second-fastest growing company according to the Financial Times. So far, the insurer has sold over 342,000 policies, with costs kept low by building new technologies, and developing pricing and fraud models which cater to drivers’ unique experiences. 

Find out more about Marshmallow at www.marshmallow.com  

Find out more about IFB at www.insurancefraudbureau.org