VFM Services (Volume Fraud
Management), which provides fraud prevention services for insurance
and finance companies, has relocated the majority of its workforce
to Peterborough following a period of growth and expansion.
VFM Services was established in 2000
by managing director Bill Jackson who, while working at
Peterborough-based travel giant Thomas Cook, developed a new process
for dealing with claims for lost or stolen travellers cheques. The
process was created to help telephone operators discourage people
from making inappropriate or false claims.
Following the success of the
process, VFM was created to provide similar services and training
for insurance and finance companies. As well as providing a
call-handling service for companies it offers in-house training to
teach staff new techniques to prevent fraudulent claims.
“VFM has been extremely successful
since it was established,” said Bill Jackson. “The company continues
to grow and relocating the majority of our 75-strong workforce to
Peterborough opens up further opportunities for expansion.
“A number of large, established
companies within our target industries are based in Peterborough and
the city was an ideal location to relocate the company. Peterborough
also has a highly-skilled work force which is essential for the
Recently, VFM has secured major
contracts from Legal & General and AXA. As well as working within
finance and insurance the company hopes to expand into new areas
such as benefit fraud and accident investigation.