Mitigating insurance fraud and potential risks

The Elixir Intelligence database is a risk management service provided by CRIF to a closed group of leading UK life insurance companies. The database was built over 20 years ago to support compliance with FCA reporting regulations and ongoing information sharing.

Relevant data is compliantly shared between members to mitigate potential risks from IFAs who target insurers to commit commission fraud and those who repeatedly require extensive and long-term commission credit to subsidise working capital. This in turn protects insurers from bad debt losses and reputational risk, assists with the control of quality of business introduced, helps fulfil TCF objectives and supports mutually beneficial relationships with their IFA partners.

Covered industries

Knowledge Education 600

Elixir Intelligence

The Elixir Intelligence community of life insurers use the CRIF’s system to validate and monitor the entire lifecycle of their business relationships with individual IFAs. Supporting confidence, transparency, and efficiency in relation to the commission risk associated with intermediated sales in the Life Insurance industry.

Key benefits

Staying Compliant and Secure

CRIF’s advanced database was created to support compliance with FCA reporting regulations and provide ongoing information sharing to mitigate commission fraud risks.

For financial Institutions

Optimising Risk Management

Cutting-edge features, including a CRIF third generation commercial scoring system, commercial and regulatory data, a news and alerts service, reporting functionality and best practice advice, helping our clients to manage risk effectively.

Seamlessly access information

The system is accessible from multiple devices and web browsers ensuring our clients have access whenever and wherever, providing users with a unified experience including access to additional tools and data services from CRIF.

Other solutions

Sherlock Investigation CRIF

Sherlock Investigation

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Sherlock Detection

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Sherlock Alert CRIF

Sherlock Alert

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