The Claims and Underwriting Exchange (CUE) has been expanded to accept data relating to travel insurance claims.
CUE’s new platform, CUE Travel, is the first central database of the industry’s claims and notifications for travel insurance policies. It has been developed to allow insurers to validate a policyholder’s travel claims history for both claims management and underwriting purposes. CUE Travel will contain both personal lines and business policies in its database.
Initially, CUE Travel will be available at the point of claim, with plans to expand into point of quote. In the future, insurers may also be able to carry out a search across all the CUE product categories on one platform.
Its creation follows on from the Insurance Fraud Taskforce’s (IFT) report in 2016, where it recommended that insurers develop the capability to access a wider set of data to enable them to combat fraud together.
Kaushik Patel, head of data services at the Motor Insurance Bureau (MIB) said: “The fight against insurance fraud relies heavily on quality databases, such as CUE, and the expansion into the travel claims category enhances the industry’s capability even further. We encourage insurers to take advantage of this new service, which gives them the central ability to load and enquire about incidents and claims, and share data with other insurers to combat fraud.”
CUE’s centralised database holds more than 35 million records about incidents and claims reported to insurers across: motor, home and personal injury/industrial illness.
Insurers can use CUE at all stages of the insurance lifecycle, including quotation, policy acceptance, renewal and claim.