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BAE Systems teams up with Zurich Insurance to fight fraud in Ireland

BAE Systems teams up with Zurich Insurance to fight fraud in Ireland
Contract signed to deploy BAE Systems NetReveal solution to further enhance how Zurich Ireland detects, prevents and reduces fraudulent claims 
BAE Systems has signed a deal with Zurich Insurance plc to provide Zurich’s business unit in Ireland, Zurich Ireland, with greater ability to detect, investigate, and prevent insurance fraud.
 
This is part of Zurich Ireland’s commitment to tackle the rising cost of fraudulent claims and will help bring stability to the insurance market and ultimately benefit customers.
 
Insurance claims fraud is recognised as a significant problem in Ireland and is a key factor in the rapidly escalating cost of premiums. NetReveal uses sophisticated data analytics to detect hidden links and patterns in claims and policy data to identify instances of fraud, otherwise undetectable, in an accurate and intuitive manner.
 
Zurich Ireland will implement NetReveal across all its major product lines. This announcement follows seven years of collaboration between BAE Systems and Zurich Insurance.
 
Mark O’Neill, Head of Insurance - UK and Ireland at BAE Systems Applied Intelligence said:

“We are excited to be extending our relationship with Zurich Insurance to Ireland and see a real opportunity to support the Irish business in their fight against claims fraud. We have worked closely with Zurich to tailor the solution to meet their needs in terms of rapid deployment and highly accurate and automated detection of fraudulent claims, whilst ensuring fewer false positives to enable genuine customers to be fast-tracked through the claims process.”
 
Jerry Fitzpatrick, Zurich Ireland’s Chief Claims Officer said:
 
“As one of Ireland’s leading insurers, Zurich is committed to tackling insurance fraud. We are delighted to work with BAE Systems to further enhance our fraud detection capabilities using their extensive data science expertise, proven in other markets.”
 
ENDS
 
For further information, please contact:
BAE Systems
Nick Haigh, BAE Systems
M: 07525 390982
E: nick.haigh@baesystems.com
 
Bite Communications
Holly Ledlin, Bite Communications
M: 07827 917023
 
Notes for Editors
 
About BAE Systems
At BAE Systems, we provide some of the world’s most advanced technology defence, aerospace and security solutions. We employ a skilled workforce of 82,500 people in over 40 countries. Working with customers and local partners, our products and services deliver military capability, protect people and national security, and keep critical information and infrastructure secure.
 
At BAE Systems Applied Intelligence, we help nations, governments and businesses around the world defend themselves against cybercrime, reduce their risk in the connected world, comply with regulation, and transform their operations.
 
We do this using our unique set of solutions, systems, experience and processes - often collecting and analysing huge volumes of data. These, combined with our Cyber Special forces - some of the most skilled people in the world, enable us to defend against cyber-attacks, fraud and financial crime, enable intelligence-led policing and solve complex data problems.
 
We employ over 4,200 people across 18 countries in the Americas, APAC, UK and EMEA. For further information about BAE Systems Applied Intelligence, please visit www.baesystems.com/businessdefence
 
Issued by:
BAE Systems plc
24 hour media hotline: +44 (0)7801717739
www.baesystems.com
@BAESystemsplc