GoCompare will be able to check suspicious activity against data at point of quote.
GoCompare has become the first comparison website to join Cifas, a cross-sector fraud sharing database.
Cifas acts as a source of information intelligence for the insurance industry, helping the fight against fraud.
It will allow GoCompare to check suspicious activity against data at point of quote and quickly receive an indication of whether there are suspicions of fraud.
For insurers partnering with GoCompare, Cifas will enable customised, real-time risk management.
Fleur Lewis, head of fraud atGoCompare, said:“We’re thrilled to become the first UK comparison website and 500thmember to join Cifas.
“As members, having access to the cross-sector fraud sharing database will build on our current fraud capabilities and protect both our partners and customers alike.
“Being a comparison website, wehave an important role to play in the prevention of fraud for the industry and we believe it’s our duty to support in any way we can by identifying fraudulent behaviour.
“Our ambition is to provide insurers with genuine, quality customers, reducing their operational costs and fraud losses, and the Cifas membership will strengthen our ability to do so.”
Mike Haley, chief executive officer of Cifas, said: “New and innovative sectors will always be a target for fraudsters, and by becoming the first comparison site to join Cifas, GoCompare is a trailblazer in the fight against fraud within their industry.
“We are delighted to welcome GoCompare as our 500th member, and their membership means they are now part of a unique community of organisations committed to disrupting and deterring the fraudulent activity that costs the UK economy billions of pounds every year.”
