DAC Beachcroft and Clegg Gifford save £7m+ with counter fraud partnership

The anti-fraud team at international law firm DAC Beachcroft has so far assisted insurance broker Clegg Gifford & Co in rejecting more than 1,000 fraudulent motor trade claims. 

The rejections, thanks to implementing a new approach for detecting fraud in partnership with DAC Beachcroft four years ago, saved Clegg Gifford more than £7 million in compensation that would otherwise have been paid to fraudulent claimants. 

Described as a “cradle-to-grave strategy” for managing claims and detecting fraud, the approach uses innovative identification methods, in-depth data analysis, early investigations and proactive evidence-gathering. 

As part of the approach, DAC Beachcroft and Clegg Gifford also liaise with regulatory bodies to pursue sanctions and with underwriters to prevent policies from being written. 

“An average of four new claims, per day, are being triggered for fraud using this model,” commented Dan Prince, partner at DAC Beachcroft. 

Graham Lee, counter fraud manager at Clegg Gifford, commented, “This is a fantastic example of a close and effective partnership between a managing agent and supplier delivering significant success.” 

He continued: “DAC Beachcroft and Clegg Gifford have developed an innovative and cost-effective solution associated with the validation of fraudulent insurance claims. Clegg Gifford is committed to minimising fraud across our industry and the associated unnecessary indemnity spend. 

“The initiative has been adopted as BAU and allows Clegg Gifford to promote a robust fraud strategy aimed at doing the right thing, at the right time for the benefit of genuine customers, partners, and investors alike.” 

Image source: Canva 

Billy Simons