SOURCE: INFORM GmbH

INFORM GmbH

April 02, 2014 08:00 ET

RiskShield Is Selected by Zurich Insurance Group (Zurich) to Prevent Fraudulent Claims

RiskShield, a Risk Assessment and Fraud Prevention Solution, Goes Live at Zurich in Mexico and Zurich Signs Agreement to Expand RiskShield in Several Countries Around the Globe

AACHEN, GERMANY and BOSTON, MA--(Marketwired - Apr 2, 2014) - INFORM GmbH and arvato infoscore, both global companies specializing in software, credit information and fraud detection using intelligent process optimization logic to improve business productivity, announces that RiskShield has been selected by Zurich to serve as a fraud detection solution for their counter fraud efforts across their global network of subsidiaries in emerging countries.

As part of the Zurich's claims counter fraud strategy, the company chose RiskShield as an "out-of-the-box" fraud detection solution that combines best practice (preconfigured set of fraud detection rules and patterns as well as interface capabilities) with a standard and repeatable rollout plan. RiskShield is an extremely flexible tool when it comes to achieving Zurich's challenging timelines to implement in multiple countries across multiple continents. INFORM specifically fine-tuned the fraud detection solution to perfectly meet Zurich's global criteria but also considered adoptions of the solution to address the specific local needs of each country.

"We are impressed with RiskShield's strong capabilities and delivery as preconfigured out-of-the-box solution for a reasonable cost. Our return on investment seems to be achievable within less than one year from go-live date," says Roland Wörner, Global Head of Counter-Fraud at Zurich's General Insurance segment.

"Mexico was our first country to go live with RiskShield. The kick-off of the project was held in February 2013 and in October the local counter fraud team in Mexico already announced that RiskShield was fully operational and delivering its first results. We support Zurich's ambitious roll out plan to implement RiskShield, starting in Latin America followed by business units in Europe, Asia Pacific and South Africa. While the implementation timeline is challenging, we believe that leveraging the experiences made in implementing RiskShield in Mexico, our joint effort with arvato infoscore and our close co-operation with Zurich will enable us to exceed expectations," says Dr. Andreas Meyer, Director Risk & Fraud Division at INFORM.

"The implementation in Mexico was a great team effort. It was really intense and the results so far are promising. RiskShield gives our people in the field additional tools to protect honest customers and gets us one step closer to getting every claim right," says Martin Casazza, Head of Operational Improvement and Head of Counter- Fraud for Claims in Latin America at Zurich.

About arvato infoscore

arvato infoscore is a global financial service provider and part of Bertelsmann SE & Co. KGaA as a subsidiary of arvato AG.

The company has around 6,000 employees in 18 countries, including a strong presence in Europe, America and Asia, and offers flexible full-service solutions for the value-oriented management of customer relationships and cash flows. arvato infoscore is synonymous with professional outsourcing services (Finance BPO) centering on cash flow in all phases of the customer lifecycle -- from risk management and invoicing to debtor management, the sale of receivables and debt collection. As part of this, the company focuses on minimizing default rates in the business initiation phase and during the collection process. As a result, its services also include optimizing the selection of payment types internationally.

As a financial solutions provider, the company manages around 10,000 customers, specializing primarily in the retail/e-commerce, telecommunications, insurance, banking and healthcare sectors. This makes it Europe's third largest integrated financial service provider. The company is a leading supplier of credit information for the German insurance industry. In addition, arvato infoscore has been selected to build and operate the exclusive fraud data pool (HIS) for the German insurance association (GDV). Together with INFORM GmbH the company has focused on intelligent fraud detection and fraud prevention and is a leading supplier in this field within the insurance industry.

Further information is available on www.arvato-infoscore.de

About INFORM GmbH

INFORM develops and markets software systems to optimize business processes on the basis of operations research and fuzzy logic. Using these two technologies, INFORM is able to develop software systems that "think" and can make intelligent decisions. The benefits for users are better on-time delivery performance, lower costs and significant competitive advantage.

More than 1000 companies worldwide benefit from advanced optimization software systems by INFORM in industries such as transport logistics, airport resource management, production planning, financial crime risk management and insurance claims handling optimization. INFORM employs over 500 staff from more than 30 countries.

Further information about RiskShield can also be found at: www.riskshield.com

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich's customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.

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