Insurance Age

Stamping out fraud

Fraud is a growing problem for the financial services sector, both in terms of exaggerated claims and in organised crime - and with the latest Association of British Insurers (ABI) study putting the cost of insurance fraud at an estimated £1.6bn, it would be a dream come true if a one-size-fits-all technical solution could be found.

Technology is playing a growing part in tackling fraud, and many insurers have invested in a range of options but so far the magic wand has yet to be waved.