Stolen Vehicle Claims Investigation Solutions
Understanding both the trends in the frequency of vehicle theft and hi-jacking incidents and the severity in the value of stolen vehicles, are subjects that require expertise. XTND has built the skills and are now investing in technology and resources, specifically to allow in-depth focus on identifying risk in these types of incidents and investigating them. Our stolen vehicle solution is a unique offering now available to all insurers. We are committed towards insurance companies’ daily challenges in retaining clients, mitigating risks to ensure profitability and sustainability whilst balancing client centricity. We are therefore dedicated in providing a quality investigation in a fair turnaround time at a reasonable competitive rate.
When partnering with a service provider, the relationship should not only be reciprocal, but also beneficial. Our team acts as one port of call from incident to claims finalisation, therefore making the service seamless. All our vehicle theft specialists are well versed to handle any type of theft, regardless of the complexity or quantum. The team is flexible and can adapt to any specific client requirements as each claim incident is unique. Tracing and seizing of client vehicles after police impoundments, assisting with salvage processes until vehicles have been returned to the insurer/client and identification of syndicates by means of expert investigation knowledge paired with high-level technology are part of our expert solutions.
Technology is key
Technology such as IBM’s i2 Analyst’s Notebook are now successfully applied in the analysis of historic insurance claims data. Over the years it has become one of the preferred tools by law enforcement agencies in the fight against crime. With the correct data and experienced analysts, law enforcement has been able to, successfully and in a short period of time, track down criminals with the use of mobile phone numbers and determine which type of vehicles move in and around certain areas during times of crime. XTND has invested in the use of IBM i2 Analyst’s Notebook with the purpose of more accurate investigation of stolen and hi-jacked vehicles.
Using i2 Analyst’s Notebook with the correct set of data can deliver outcomes such as identifying:
- Previous claims on the same vehicle
- Witnesses flagged previously on other incidents as potential suspects or dishonest claimants
- Mobile numbers used by different witnesses and/or claimants
- Service providers potentially colluding with claimants
- Syndicate modus operandi
To mention only a few anomalies.
The underlying challenge, however, always remains that structured quality data is required. The following structured data are successfully used by the i2 Analyst’s Notebook:
- Claim number
- Policy number
- ID number
- Vehicle registration number
- Vehicle VIN number
- Vehicle engine number
- Mobile phone numbers
- Telephone landline numbers
- Employee numbers
- Bank account numbers
- Appliance serial numbers
We invite you to speak to us about this new service offering and learn how we can assist your claims department to process stolen vehicle claims more efficiently and at the same time mitigate fraud risk.