Dun & Bradstreet (D&B) is pleased to announce the successful launch of the new Insurance Reference Services (IRS) database of Australian motor and home insurance claims.
The database provides an important source of information for general insurers to manage and support their insurance fraud detection, claims management and underwriting.
The IRS database provides motor and home insurers with access to over 25 million claims on 11 million individuals and 700,000 businesses within Australia, and receives around 600,000 claims updates each month from member insurers.
According to IRS Director, Adrian Dolin, D&B was appointed to build, host and manage the IRS database following a comprehensive tender process to evaluate potential suppliers based on their data management capabilities and capacity to provide additional value-add solutions to the industry.
“Given the complex nature of the project involving a legacy database and systems, nearly 20 different member organisations and around 2,000 individual users, the IRS Board was pleased with D&B’s project execution, on-time delivery, and the integrity with which they have managed the privacy and security of member data,” Mr Dolin said.
By providing insight on the claims activity and behaviour of an individual or business at a market level, the IRS database allows members to:
Dun & Bradstreet Australia & New Zealand, Chief Executive Officer, Simon Bligh, indicated that working with IRS as a trusted partner would be of ongoing strategic benefit to both organisations.
“D&B has used the transition and its position as a rapidly growing data exchange to improve the accuracy and completeness of the database, as well as enhancing its scalability through the upgrade of its matching and technology foundations,” Mr Bligh said.
“Data is at the core of everything we do at D&B, so we are tremendously excited to have the opportunity to work with IRS and its members to deliver improved value and drive greater innovation for insurers and the industry as a whole.”
IRS is overseen by a Board of Directors drawn from member organisations and the Insurance Council of Australia (ICA). All major general insurers in Australia participate in IRS claims data sharing.
For more information please contact:
+61 3 9828 3675
About Dun & Bradstreet
Established in 1887, Dun & Bradstreet is Australia and New Zealand’s longest-established credit information bureau. Backed by its extensive financial database, D&B helps businesses to make informed credit decisions, and consumers to access personal credit information.
D&B works across the entire credit lifecycle to deliver data-driven solutions in sales and marketing, credit reporting and debt management.
Through analysis of financial and behavioural information, D&B also provides current and predictive assessments of the economy, business conditions and credit activity.
About Insurance Reference Services
Established in 1984, IRS is a member-based organisation that enables the sharing of claims history data between general insurers to support claims management, fraud detection and underwriting. The insurance company members of IRS represent some 90% of the Australian motor and home insurance market.