Horwich Farrelly, the UK’s leading legal advisers to the insurance and commercial sectors, has expanded its award-winning counter-fraud technology solution “HOLT” into Scotland. Launched at the end of 2019, the Online Litigation Triage solution uses intelligent automation, Artificial Intelligence and Optical Character Recognition technology to help insurance handlers quickly and accurately assess claims for fraud.
HOLT ensures that genuine claims are swiftly paid, and any claims requiring further investigation are promptly identified. In addition to picking up seven industry awards in the past 12 months, HOLT has reduced litigation rates, cut operational costs significantly and has so far saved over £17 million.
1ST CENTRAL was one of the first insurance companies to utilise HOLT, and its counter fraud experts have worked with Horwich Farrelly’s lawyers to regularly add further strategies to the solution to combat constantly evolving fraud trends. Taking that one step further, 1ST CENTRAL has now become the first insurance company to launch HOLT in Scotland, with a particular focus on fighting claims farming north of the border.
Hann Narin, Head of Claims Counter Fraud at 1ST CENTRAL, said: “We have a firm commitment to the detection and elimination of fraud from the claims process and we’re constantly looking for ways to tackle evolving fraud types. Our continued investment in technology solutions such as HOLT helps ensure we can identify fraud earlier and reduce the impact it has on honest customers.”
Steven Smart, Partner and Head of Horwich Farrelly’s Scottish office, added: “Technology is becoming increasingly important when it comes to fraud identification. Not only does HOLT help speed up the assessment of a claim through its use of the latest technology, it is powered by the extensive knowledge of counter fraud experts, meaning suspect claims are quickly and accurately identified and genuine claims are promptly paid. We are delighted to have worked with 1ST CENTRAL’s counter fraud experts to adapt and expand HOLT into Scotland”.