Latest Insurance
- Climate-Insurance Newslink Global Trends-Editor's Quarterly Highlights
- Ariel Re relaunches clean energy division as ‘Ariel Green,’
- Loadsure partners with WeatherOptics
- Miller and Clearwater Dynamics partner to establish marine insurance solution for the Ukrainian grain corridor
- Aviva to acquire AIG’s UK protection business for consideration of £460m
- Vaudoise selects Guidewire Cloud
- Customer Data Platforms to generate over $70bn in additional consumer spend by 2028 globally expired
- IDF Implementation Update: Inclusive Insurance in Kenya expired
- Newslink Global Insurance Trends-Editor's Weekly Highlights expired
- United Nations Capital Development Fund and Sustainable Markets Initiative Insurance Task Force partner to scale insurance access for climate-vulnerable countries expired
- Gallagher Re launches the first in a series of Gray Rhino research papers expired
- 2023 North Atlantic Hurricane Season: El Niño Versus SSTs Tug of War continues-Moody's RMS expired
17th September 2023
PwC UK announces an alliance with Clearspeed Inc. to combat fraud
Trend
PwC UK has announced an alliance with Clearspeed Inc., a leading provider of voice analytics technology for accurate, automated risk assessment at scale. This alliance gives the firm’s clients the opportunity to enhance the experience of their customers by speeding up their claim, application or process, while more efficiently and effectively managing fraud risk across their operations. The alliance is part of PwC’s ongoing commitment to make optimal use of innovative new technologies to tackle the most important business and societal challenges, fraud being a major one.
Clearspeed’s innovative voice-based technology provides a highly accurate and unbiased assessment of risk. By asking a set of simple questions, Clearspeed’s AI-enabled platform identifies vocal characteristics in the answers that are associated with risk on a real time basis. By working with Clearspeed, PwC will help empower organisations dealing with high volumes of customer interactions where there may be fraud exposure-be that in the insurance, banking or public sectors-to successfully process a significantly higher proportion of cases more quickly and without any further human intervention.
Harry Holdstock, Partner, PwC UK, comments: “Fraud is increasingly a major concern across all parts of the economy and society, and now accounts for over 40% of all reported crimes in the UK. We were pleased to see the recent launch of the UK Government’s new Fraud Strategy, which places a renewed focus on tackling scams and bringing fraudsters to justice and commits to investing in the launch of a National Fraud Squad. In this context, finding and deploying new methods and approaches to stopping fraud while continuing to meet the service expectations of customers is essential. I’m really excited we will be working with Clearspeed as we seek to help our clients enhance the experience of their customers and up the ante in the fight against fraud.”
Alex Martin, Clearspeed CEO, said: "We are really enthusiastic about our alliance with PwC UK and its potential to address issues of fraud across multiple industries– nsurance, financial services, government, immigration, sports integrity. With the rising cost of living and the digital transformation of the economy, fraud rates have increased and approaches have evolved, presenting a difficult challenge to traditional technologies for fraud detection. By leveraging advanced technologies such as artificial intelligence, machine learning, and next-gen voice analytics, we will revolutionise risk assessment together, empowering businesses to stay ahead of emerging threats and safeguard their operations and their customers, building trust faster in an increasingly complex landscape."
PwC TrendS(203 articles)
AI Trends(476 mentions in Insurance Newslink)
