1. The Insurance Fraud Register – progress so far and future aims Mark Allen Manager, Fraud & Financial Crime Association of British Insurers

2. The IFR’s remit First industry- owned cross- sector register of known insurance frauds Holds data on first parties, third parties, professional enablers, suppliers, articles Used during stages of product life cycle Meets regulator’s expectations to mitigate financial crime risk

3. Tangible consequences for offenders Insurance and other financial services will be harder to obtain Higher premiums Enforcement action Judicial attitudes hardening

4. Complaints policy Strict loading criteria Robust definition of fraud Individual advised in breach of policy fraud condition Data refreshed every 7 days Data deleted after 5 years Audit mechanism Subject access requests No retrospection Safeguarding the integrity of the IFR

5. The journey so far Contractual negotiations complete ‘early adopters’ loading records Initial focus on ABI members 88 registrations of interest: 55 from ABI members 37 insurers have attended workshops Plan to on-board 3 insurers per month Participation criteria: Readiness to participate Data contribution Spread of different sized insurers / product lines

6. The next phase – third party access

7. Increases volume of data held Demonstrates collective action Increases front-end capability Platform for broker participation Establishes links to other sectors Requires significant resource Potentially very costly Technical complexity Contractual complexity Contribution to data Contribution to funding Impact on transaction volumes Benefits Drawbacks Third party access

8. Other priorities Enhancing system functionality Technical User Group Suitability of case loading by MO Data formats Technical documentation MI reporting Communications

9. IFR Consolidated List A flexible tool

10. Further information Register via dedicated website: www.theifr.org.uk www.theifr.org.uk....................................................... Participation process......................................... Technical information Access routes Transaction limits Audit framework Legal/ technical documentation

11. Thank you Mark Allen Manager, Fraud and Financial Crime Association of British Insurers Mark.Allen@abi.org.uk T: 020 7216 7573 M: 07725 245294