Saw this article To Beat Fraud, Insurers Must Collaborate: NICB and it hit home. Collaboration is part of how the credit card industry drove down fraud. By pooling data on usage and fraud they were able to enable to building of sophisticated fraud models. These neural nets, combined with business rules in Fair Isaac's Falcon Fraud Manager product, delivered an EDM solution that had dramatic results.
I have blogged about the need for insurers to do the same before.