Fraudulent claim value goes up but detection rates also increase
ABI data shows the average fraudulent insurance claim has now reached £12,000 as the the body praises the efforts made by insurers’ fraud investigation teams throughout the pandemic.
The Association of British Insurers (ABI) has released its latest fraud figures, highlighting a fall in the overall number of insurance frauds detected in 2020.
However, it stated that this downward trend was mainly due to fewer motor insurance claims, adding that both the value of the average fraud and fraud detection rates increased on 2019.
Mark Allen, ABI’s chief fraud and financial crime officer, commented: “Insurers adapted very quickly to the unprecedented challenges of the pandemic, to
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