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Investigate Insurance Risk
TARGET
VERIFY
ASSESS
Insurance Reference Services (IRS) is a member based organisation owned and controlled by participating member organisations (insurers) in Australia.
IRS was formed in 1991 in response to the large increase in the number of fraudulent claims in Australia during the 1980s. The IRS database is Australia's first and only comprehensive claims data sharing system which:
- Enables insurers to assess insurance risk, improve claims processing and combat fraud
- Contains more than 21 million insurance claims of Australian individuals and companies dating back 10 years
- Provides information that is detailed and continually updated by members, including insurance claims, insurance enquiries and loss assessor enquiries
- Is complimented by access to commercial credit and public record information held by Veda Advantage such as commercial default listings, court writs and summonses, as well as individual bankruptcy information.
Who can join IRS?
Membership is only open to the insurance industry participants, including:
- Insurance companies
- Self insurers
- Loss assessors*
- Third Party Claims Processors
- Statutory authorities
- Investigators*
*Loss assessors, investigators and third party claims processors can only use IRS on behalf of subscribers who are insurers or self-insurers. Loss assessors, investigators and claims processors are not permitted to conduct IRS enquiries on behalf of an insurer that is not a member of IRS.
How does IRS work?
Participating insurers submit their insurance claims on a regular basis and in turn use IRS information to:
- Complement pricing models
- Validate policy disclosures
- Research loss histories
- Identify claim patterns and claimant behaviour
- Detect and investigate suspect claimants
What is Veda's role in IRS?
Veda Advantage is contracted by the Insurance Reference Services Ltd to manage, maintain, develop and promote IRS. Veda is also responsible for providing account management, sales support and national customer service to IRS subscribers.
What products does IRS offer?
Shows an individual's general insurance claims history over the last ten years, as well as any commercial credit and public record information available.
Company/Business Insurance Enquiry
Shows an entity's general insurance claims history over the last ten years, as well as any commercial credit and public record information available.
Insurance eAlerts
Alerts can be placed on individual files where an insurer has an ongoing interest. Notifications can be customised to provide the insurer with detail of new insurance claim activity, derogatory public record information, or commercial credit default. Often alerts are used for insurance contracts that have a long tail claims process i.e. CTP, workers compensation and income replacement.
For more information on our products and services designed to help you target customers, verify identity and assess risk and potential
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1300 921 621
