BlockFrauds – a Fardoe Software Ltd business – is delighted to announce the launch of its flagship fraud detection software and expansion of its trials programme. This generation can match or eliminate voice samples, including deep fakes, with the added benefit of being passive voice authentication – meaning it is done through normal conversation without the customer having to pre-provide pass-phrases or read a script – and it works with less than one minute of speech sample. This solution can be used across many applications and currently returns a True Positive Rate of over 92%, meaning low risk of honest customers being flagged. For insurers, BlockFrauds combines it with sentiment analysis that helps detect signs of fraud through the manner of the speech or how it changes. BlockFrauds’ advanced image analytics can detect multiple use of images or their manipulation, including identity document fraud. Together these provide a Claim Credibility Score to help progress genuine claims fast whilst prioritising those needing further review. All of this can be used within a company’s own ecosystem of data and tools, or the anonymised intelligence can be seamlessly and compliantly shared in BlockFrauds’ Fraud Bureau, to better spot multiple claims and known fraudsters whilst helping the AI learn from the wider intelligence. CEO Roanna Doe said “We’re delighted to help overcome some of the key challenges faced in detecting fraud, including sharing and analysing sensitive information seamlessly without breaching regulations and doing voice matches without affecting customer service experience. Insurance fraud costs us all over $100billion each year, and we can help insurers better utilise their available information and share intelligence quickly and across borders in their fight against it, whilst retaining high customer service levels and facilitating new ways of interacting.” CTO Soadad Farhan (ex-CTO and Head of Innovation at Hiscox) said “We have combined multiple breakthrough technologies and deep-tech innovation to help insurance companies with their fight against fraud. Our unique offering is a multifaceted solution with advanced claims assessment capabilities aimed at reducing operation and fraud costs and increasing policyholder loyalty.”