IFB announces changes to Technical Board
15 December 2014
- New Chair of the IFB Technical Board announced.
- Work starts to create a project team to drive forward IFB’s five-year strategy (2015 to 2020).
Richard Davies, Global Chief Fraud Control Officer, AXA, has been appointed as the new Chair of the Insurance Fraud Bureau (IFB) Technical Board. Davies has a long-standing involvement with the IFB and has been a member of the Technical Board since its inception in 2012.
Following the announcement of the IFB’s five-year strategy 2015 to 2020 (2020 Vision, Evolving The Insurance Industry’s Fight Against Fraud), applications to sit on the Technical Board were invited in November 2014. As a result, over 50% of the Board will change with effect from 1 January 2015 and includes seven new members.
Established in response to the IFB’s 2011 Strategic Review, the Technical Board comprises of leading fraud experts representing IFB members from across the industry. The Board’s role is to advise and drive the development of IFB initiatives and counter-fraud products. A notable achievement which demonstrates the Board’s focus to deliver for IFB customers is the fact that the Bureau has hit or exceeded all key performance indicators. This includes a significant increase in the number of IFB operations over the past three years - standing at 30+ operations with a value of £50+ million at the close of 2011 and rising to 120+ operations with a total value of £120+ million in 2014.
Davies said: “Fraudsters aren’t standing still and as their methods evolve our response needs to adapt. Consequently there is plenty of work to be done to ensure that IFB’s ‘Business As Usual’ and governance models evolve to meet the strategic needs of the wider industry.”
Ben Fletcher, IFB Director, explained: “The Technical Board is an integral part of the IFB and the members have played a key role in determining the principles of IFB’s strategic direction for the next five years. I would like to thank every member for their commitment to date and I am sure the IFB can count on their future support.”
The IFB Technical Board members from 1 January 2015 will be:
- Paul Bates, Tradewise Insurance Services Limited (new member)
- Richard Davies, AXA (existing member)
- Sue Evans, EUI Limited (new member)
- Tom Gardiner, Aviva plc (new member)
- Matt Gilham, esure (existing member)
- Chris Hallett, 1st Central (existing member)
- David Halstead, AIG (new member)
- Ursula Jallow, LV= (existing member)
- James Langdown, Ageas (new member)
- Allan Peak, Markerstudy Insurance (new member)
- Paul Priestley, Hastings Direct (new member)
- Rob Speigelhalter, NFU Mutual (existing member)
- Bob Spencer, Direct Line Group (existing member)
In addition to the changes to the Technical Board, the IFB is creating a project team to drive forward the implementation of the strategy. The team will consist of three component parts: a Project Board with overall responsibility for the governance and delivery of the strategic work programme accompanied by two dedicated work streams. The first work stream will focus on IFB’s expansion to manage organised, cross-industry fraud risks across all product types. The second will concentrate on creating the required infrastructure to share intelligence in a compliant and efficient manner.
Dedicated project resource is being recruited by the IFB although the Project Board and each work stream will have an independent insurer Chair. The project formally starts on 1 January 2015, with three members of the current Technical Board assuming these new roles.
- Mihir Pandya, Allianz, will chair the IFB Strategy Project Board.
- Scott Clayton, Zurich, will chair the work stream dedicated to IFB’s expansion into other product lines.
- John Beadle, RSA, will chair the work stream to build the intelligence-sharing infrastructure.
Pandya, Fraud Manager at Allianz, said: “The Project Board and work streams will work closely with the Technical Board to ensure the IFB strategy strengthens the industry’s capability to tackle all forms of fraud. I am looking forward to supporting the IFB to implement this crucial stage of the strategy.”