Insurance Fraud Bureau

IFB announces new broker member XS Direct

01 October 2018

XS Direct will join the fight against insurance fraud as the latest addition to IFB’s expanding broker model.

IFB’s membership has expanded rapidly this year as it’s welcomed five new members. With application fraud continuing to be a big issue for the industry, the benefits of IFB membership in facilitating the sharing of intelligence is the industry’s best tool to combat fraud.

The information and data that insurers and brokers provide prove pivotal to IFB investigations. As increasing numbers of insurers and brokers join IFB, it’s clear the industry is realising the benefits that membership can bring, arming them with better intelligence to write cleaner business and price according to true risk.

Welcoming XS Direct on board, Ben Fletcher, IFB Director commented, “Collaboration between brokers and the IFB is vital to effectively combatting fraud. Data sharing between members continues to be crucial in bringing insurance fraud to light, increasing the number of investigations and enabling us to better combat fraud by working together more efficiently. It is imperative that we continue to do so and XS Direct’s membership will further enhance the volume of intelligence that will be shared to aid the fight against fraud.”