Insurance fraud in decline in Q2

fraud

Attempted fraud in the insurance industry fell by 16% between April and June 2012, according to new figures released by Experian.

Out of every 10,000 applications for insurance products, 10 were found to be fraudulent, compared with 12 out of 10,000 over the same period of 2011.

The figures also revealed that 86% of insurance fraud attempted in the second quarter of 2012 was committed by first party fraudsters.

Experian’s latest fraud index also showed a 3% drop year-on-year across all financial services products, with automotive finance and insurance providers seeing the biggest declines.

However the mortgage industry

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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