AXA has announced plans to use what has been described as the UK's "largest” syndicated database of cross-sector customer intelligence to help strengthen its fraud prevention measures.

The insurance company revealed that is is rolling out a platform by Synectics Solutions which uses data from across 180 organisations.

The platform also includes outcome orchestration, designed to create an “automated and intelligent” way of dealing with applications by refining decision making.

The two companies collaborated on a proof of concept before the roll out which combined syndicated data with AI.

According to the partnership, the proof of concept demonstrated improved fraud detection and increased the speed of identification of fraud, helping to reduce fraud costs.

"We believe that this strategic investment becomes increasingly important as the industry is facing increases in claims’ costs and by reducing fraudulent activity, we can ensure genuine customers don’t have to pick up the costs of fraudsters," said David Pearce, director, retail direct, AXA.

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