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8 March, 2017 - 00:30 By Tony Quested

New business in the bag for Featurespace

InMyBag, a new recovery service for mobile professionals that protects mobile devices from loss, theft and damage, has formed a long-term partnership with Featurespace, the Cambridge adaptive behavioural analytics fraud prevention business, to support the service to InMyBag members.

Featurespace’s real-time, machine learning ARIC platform detects anomalies in individual behaviour for fraud and risk management.

The ARIC platform will be integrated into InMyBag’s system to identify and block online fraud at both the point of application and claim – all in real time.

InMyBag, based in London, provides its members with same-day replacement for devices such as laptops and phones, as well as enterprise-grade data recovery. Iain Harper, InMyBag CEO, said: “We don’t really see ourselves as an insurance company. We’re a members’ service for mobile professionals that protects the things that matter to them most – their mobile devices.

“We’re starting from the position of trusting our members, which is radically different to the adversarial approach most insurers take. In order to protect our members, we need to be able to identify and exclude the bad apples and that’s why we’ve chosen Featurespace.”

Martina King, Featurespace CEO, added: “This long-term agreement with InMyBag is a great example of how the ARIC platform is enabling innovative growth businesses to protect their customers while maximising revenue.”

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