CHO collaborates with Percayso to combat fraud in credit hire industry

The Credit Hire Organisation (CHO), the UK’s credit hire sector’s leading trade body, has partnered with Percayso Inform to develop a cutting-edge anti-fraud platform for its members. This collaboration aims to enhance the industry’s ability to combat fraud, not only within the credit hire sector but also across the wider motor claims supply chain. 

Anthony Hughes, chairman and CEO of the CHO, expressed the platform’s significance in addressing fraud-related challenges, stating; “There has been plenty of interest in the concept and we’re confident that many of our members will see the benefits of being a part of it.” 

The platform will be launched at Percayso at the CHO’s annual conference on 12th October. Subscribers will be able to utilise the platform’s advanced technology to scrutinise claims, proactively identifying fraudulent activities. This will also benefit customers in the long term as those making genuine claims will see a more streamlined process and reduced costs.  This initiative aligns with the CHO’s overarching goal of combatting industry fraud. 

While the Association of British Insurers (ABI) estimates insurance fraud costs £1.1 billion annually, credit hire fraud data remains unspecified. Nevertheless, Hughes acknowledged fraud’s prevalence among CHO members, with some maintaining dedicated anti-fraud teams.  

Ian Lilley, head of partnerships at Percayso, welcomed the collaboration as an opportunity to develop a bespoke counter-fraud platform for the credit hire sector. He highlighted the platform’s potential for expansion and the introduction of additional anti-fraud measures from the motor insurance industry. 

The CHO, representing member credit hire companies (CHCs) and the wider sector, negotiates with motor insurers, government bodies, media, trade associations, and stakeholders. With a history spanning four decades, the credit hire industry plays a crucial role in assisting individuals needing replacement vehicles after non-fault accidents. Member CHCs safeguard consumers’ rights, providing mobility solutions to hundreds of thousands of accident victims, contributing significantly to the UK economy. 

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Emma Cockings Emma is a content editor for Claims Media. Emma is a experienced writer with a background in client-centric personal injury for a major firm. She has attended and reported on multiple brokerage events throughout her career.