Fraud
Payment Protection Insurance: Paying the price
With payment protection insurance complaints putting a seemingly never-ending financial strain on the industry, can the product ever bounce back?
Comment: Creative fraudbusting
Appealing to the casual fraudster’s conscience won’t work – it’s time for a more direct approach, says Eddie Longworth.
Insurance claim handler sentenced for fraud
An insurance claims handler who conned almost £7000 from her employer to fund shopping trips has been sentenced.
Insure the Box hackers sentenced after Ifed investigation
Two men who hacked into Insure the Box’s payment systems and secured £187 000 worth of car insurance for just £30 have been sentenced at Liverpool Crown Court.
Accenture reports 10% rise in fraudulent insurance claims in three years
More than two-thirds (71%) of claims executives at European property and casualty insurance companies have seen an increase in the number of fraudulent claims over the past three years, according to Accenture.
Accenture finds fraudulent insurance claims rise 10% in three years
More than two-thirds (71%) of claims executives at European property and casualty insurance companies have seen an increase in the number of fraudulent claims over the past three years, according to Accenture.
Anti-fraud software could lead to 3% combined ratio reduction
A software firm claims it can reduce UK insurers’ combined operating ratios by up to 3% by tackling motor and liability insurance fraud with predictive analytics.
IFB working on new model to attract brokers put off by membership cost
Move coincides with demand for greater broker representation on fraud register
Axa denies complicity after Accident Exchange exhumes Autofocus cases
AE’s chief vows to right wrongs of ‘deceitful’ practices in targeted legal action
Editor's comment: Hit in the pocket home and away
Last week I described fraudsters as the long-standing foe insurers are unable to rid themselves of, and this week, true to form, they struck both home and away in the place it hurts insurers most – their pockets.
Property Claims 2013: Insurers urged to use fraud register to punish fraudulent policyholders
Industry told of ‘massive obligation to raise awareness around morality’
Your Say: Tackle fraud in casualty claims
Reports and speculation that organised fraudsters are now targeting the casualty market are in my opinion valid.
Post Audio Supplement - 30 May 2013
Too busy to read the magazine or website? Want a quick update on the latest news?
Allianz investigates possible employers’ liability fraud rings
Insurers must do more to clamp down on fraudulent employers’ liability claims before organised fraudsters take the “next logical step” into the EL sector, according to Allianz fraud manager Mihir Pandya.
Leader: Fraud: insurers’ enduring foe
The insurance industry is learning it needs to evolve and adapt to survive and, to be fair, in the past five years it has increased its use of technology, reintroduced telematics and developed apps for mobile devices.
Claims rise adds to fears fraudsters are targeting EL
Employment arena is ‘fertile’ ground for organised fraud
Sky subscribers warned against bogus insurance salesman
Residents in Cheshire are being warned not to be duped by a con-man who has been attempting to sell insurance for Sky television set-top boxes.
Hill Dickinson fraud model attracts new insurer subscribers following Q1 success
Hill Dickinson fraud unit bosses claim they have delivered a 122% increase in suspect claim identification to insurer clients in the opening quarter of the year, as a result of the firm’s fraud risk profiling model.
Career file - Danny King: Former Axa strategic relationship manager takes on Insurance Fraud Bureau role
The Insurance Fraud Bureau is targeting further growth in its customer base, having appointed Danny King as its new business development manager.
IFB to target broker members with ex-Axa manager Danny king
A former strategic relationship manager and key account manager at Axa Insurance, Danny King has been appointed to lead the Insurance Fraud Bureau’s acquisition of customers, including exploring how the IFB’s membership model can be enhanced to enable…
Post blog: War on fraud
The exponential increase in insurance fraud over the past six-years is a major problem, and one that should set alarm bells ringing for everyone in the industry, says Andrew Anderson.
Expertise in Action: The problem of claims fraud
Fraud continues to be one of the biggest problems facing the insurance industry with wrongdoers adding an estimated £44 to the cost of the average policy bought by honest consumers.
Expertise-in-Action: Claims Fraud - Fully equipped
How can insurers make sure intermediaries have all the tools they need to play their part in fraud prevention?
Expertise-in-Action: Claims fraud - Contagion
Despite the insurance industry's valiant efforts, fraud is spreading through the market place like a virus. What can be done to stop the rot?