The insurance industry has already made big strides in improving the data sets to attain wide benefits from quality data, and we have a development programme in place to ensure that further improvements are made. Additionally, the government's Insurance Fraud taskforce is demanding we tackle insurance fraud more aggressively and the strong reputation of the industry depends on our ability to demonstrate good corporate governance.
This whitepaper focuses on how motor insurers can make effective use of available data to achieve more accurate pricing, provide a better customer experience and combat fraud. The whitepaper features a roadmap which outlines the functionality of available databases and what insurers need to do to reap the benefits.
• The Claims and Underwriting Exchange (CUE).
• Motor Insurers' Anti-Fraud and Theft Register (MIAFTR).
• No Claims Discount (NCD).