One Call Insurance is one of the largest independent insurance brokers in the UK. Last year, it wrote £125 million in gross written premium and it currently has approximately 400,000 live policy holders. It was experiencing a wide range of fraud, including:

  • Ghost brokers and organized fraud rings trying to obtain fraudulent policies.
  • Individuals switching from different insurance companies after defaulting on payment.

When One Call Insurance switched to ThreatMetrix, it was able to:

  • Analyze every new policy application in the context of the applicant’s digital identity, to identify any anomalies or high-risk behavior that could indicate fraud.
  • Reject applications that looked fraudulent before they went on cover.

“Your system had all the capabilities of our previous device-ID solution but with the additional digital identity intelligence. It was a no-brainer to switch.”

Josh Barnsdale, One Call Insurance

Business Problem

Despite a robust fraud detection solution, One Call Insurance couldn’t always identify a fraud ring or ghost broker until it saw subsequent policies with unusual links to the first. The initial policy slipped under the radar, then another policy appeared from the same device, or with the same email address or telephone number and the fraud ring was exposed. It was missing the opportunity for early, proactive detection.

It needed a solution that could authenticate all applications from the outset, looking holistically at connections between devices, locations, email addresses and threat intelligence to detect anomalies that might indicate fraud right from the first application.

“When we switched to ThreatMetrix we saw an enhancement from your digital identity capabilities. Some of your rules were predicting fraud at 50 percent, which is very, very high.”

Josh Barnsdale, One Call Insurance

Leveraging ThreatMetrix Digital Identity Graphs to Accurately Identify Fraud Rings

The ThreatMetrix solution is underpinned by the ThreatMetrix Digital Identity Network, which harnesses global shared intelligence from millions of daily consumer interactions including logins, payments and new account applications. Using this information, ThreatMetrix creates a unique digital identity for each user by analyzing the myriad connections between devices, locations and anonymized personal information.

Digital Identities are created by combining the following key intelligence:

  • Device profiling – Device identification, device health and application integrity, as well as detection of location cloaking or spoofing, (proxies, VPNs and the TOR browser).
  • Threat intelligence – Harnessing point-in-time detection of malware, Remote Access Trojans (RATs), automated bot attacks, session hijacking and phished accounts, then combining with global threat information such as known fraudsters and botnet participation.
  • Identity Data – Incorporating anonymized, non-regulated personal information such as user name, email address, telephone number and more.
  • Behavior analytics – Defining a pattern of trusted user behavior by combining identity and transactional metadata with device identifiers, connection and location characteristics. Every transaction can be analyzed in the context of this behavior pattern and historic context globally.

“The system is a lot easier and it has sped up the process. We are now much more confident when there is no flag by ThreatMetrix there is a minimal chance of fraud.”

Josh Barnsdale, One Call Insurance

One Call Insurance could authenticate every new policy request against this trusted and unique online digital identity, checking whether credentials of the applicant correlated with anonymized information held by the Network.

Long-Term Success
  • One Call Insurance took advantage of the flexibility of the ThreatMetrix policy engine to customize risk scores to suit its specific business requirements.
  • ThreatMetrix Trust Tags enabled One Call Insurance to effectively differentiate between fraudsters and legitimate applicants. Trust can be associated dynamically with any combination of online attributes such as devices, email addresses, card numbers or any other attributes involved in accepting, rejecting or reviewing an insurance application. This capability had a big impact on streamlining the policy approval processes.
  • Following successful deployment, One Call Insurance is looking at extending the solution to help prevent fraudulent claims.

“The massive benefit we saw from ThreatMetrix is that it is giving us transparency of a fraudulent policy or fraud ring from the outset.”

Josh Barnsdale, One Call Insurance

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