Risk and counter fraud solutions for insurance and financial services markets.




Counter Fraud Collaboration

About Us

Founded in November 2017 by a team of experienced counter fraud and data management experts with over 30 years of combined counter fraud experience and 50 years of data managment expertise.

Cross sector and cross market data sharing using VBase, VRS’ unqiue data solution provides insurance and financial service markets with unqiue insight to reduce risk and combat fraud.

VRS belive in the value of data sharing - we never charge a service fee, just for the data our customers use.

Data Sharing Silos

The Problem

Fraudsters operate across markets, across sectors and throughout supply chains.

Insurance, financial service providers and their supply chains all share data in silos.

Fraudsters exploit the gaps in restiricted data sharing, it is estimated that these gaps cost the public and UK business £3 Billion a year and adds £50 to each car and home insurance policy in the UK

Collaborative Data Sharing

The Solution

VBase is our custom data management solution. Over a billion data points have been matched, deduped and aggregated from insurers, compensators, financial service providers and their supply chains. This data is added to regularly.

We have exclusive terms with many of our data sources and the unique data provides our customers with signficant insight into their customers, their risk and claims validation - Reducing fraud and risk across the customer lifecycle.

Intelligence such as details of the referral chain, free text accident circumstances and a wide range of contact details for all parties in a claim provides VRS with unique insight into organised criminal activity.

Our Products

VRS Data Export

VRS can provide our customers with a data feed including a full copy of VBase.

Our customers can use the data for any risk or counter fraud purpose, drive pricing strategy and review the data in the context of their own business, they never have to make any calls to our database or send us their data.

Customers can implement the data feed into their own counter fraud strategies (subject to conflict management commitments) and can be used in conjunction with any other VRS product

Pricing models can include a simple fixed annual licence, ‘price per field’ or revenue share agreements for resellers

VRS Data Enrichment

VRS host VBase and following an API call or bulk data transfer, relevant data is appended to the insurers data (typically any accidents identified along with party type)

VRS take care of any matching requirements, data cleaning and can further enrich with third party data sets as required. This is a service that can be used at quote, inception or renewal

Pricing models include an annual subscription or ‘pay per click’

VDefine Rules Engine

Similar to VRS Data Enrichment, the VDefine rules engine is designed to be used at the point of claim. VRS Host the full VBase dataset and our cleints provide us with a regular data feed via an API or bulk data transfer.

Using the data provided VRS apply their sophisticated rules engine, VDefine, and return a risk score to allow our clients to identify risk. When data is provided via an API, responses are provided in real time. along with push notifications if the risk changes

Bespoke rulesets can be prepared for additional fees

This is a service we provide to most of our clients free of charge (subject to terms and conditions)

VRS Intelligence Solutions

VRS intelligence Solutions supplement our VDefine product.

Once a high risk claim is identified our customers can request a report. Our detailed automated reports, available on demand and delivered to a users inbox in a few minutes, set out the intelligence that has been used to generate the VDefine risk score.

Our Autoamted Reports are ideal for case triage before further, expensive investigaitons are undertaken

VRS team of experienced analysts can provide further, more detailed reports on request including open and closed source searches, detailed reviews of organised fraud rings and more.

VRS has been honored to partner with these providers

Our Partners

The Credit Hire Organisation (The CHO) is the credit hire industries trade body. Working alongisde credit hire companies The CHO work to collaborate and innovate. Focusing on issues that matter to their members, setting and upholding of quality that allow the industry to thrive.

We would love to talk to you

Contact Us

Email: info@veriusrisksolutions.com

Telephone: 0330 995 8496