Netwatch Global, the Open Source Investigations (OSINT) experts, have joined the Insurance Fraud Bureau (IFB) membership to play a key role in the industry’s fight against fraud.

Netwatch are leaders in online investigation and social media intelligence, providing powerful and actionable intelligence to help clients gather evidence and make effective risk-based decisions relating to insurance fraud. Accessing some of IFB’s industry-shared solutions will help Netwatch support their clients further and importantly they will help to strengthen the wider industry’s fraud prevention and detection capability.

Ursula Jallow, Director at the IFB, said:

“We’re really pleased to have Netwatch Global join our membership. Insurance scams increasingly take place online and across social media platforms, which means the knowledge that Netwatch can share with the IFB and its wider membership will really strengthen the membership as whole in the fight against fraud as well as help further protect vulnerable people and businesses targeted online."

David Purcell, Chief Operating Officer at NetWatch Global, Said:

“We’re delighted to become a member of the IFB and assist the industry in the ongoing battle against fraud. Access to some of IFB’s solutions and insights will help us deliver the best possible service to our customers in identifying potentially fraudulent activity that might be targeting their operations. NetWatch are proud to play a part in preventing fraud in all of its many guises and continue to provide cutting edge counter-fraud services to all of our customers in the insurance space."

Netwatch provide online investigation services and software tools to insurers and law enforcement. The IFB will be a key partner to Netwatch in building on its collaboration with members of the insurance market and police to help protect customers from rising threats; which includes tackling motor policy fraud and its links to wider crime.

The IFB, which is a not-for-profit organisation, coordinates intelligence sharing and cross-industry investigations to help bring insurance fraudsters to justice. Netwatch now have access to some of IFB counter-fraud solutions and insights, such as IFB Exploration - an AI solution used to detect fraud networks - and they will also be able to collaborate in cross-industry initiatives.

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

Find out more about Netwatch at netwatchglobal.com and the IFB at insurancefraudbureau.org