Stamping out fraud
While the insurance industry has had some successes in the fight against fraud, this crime has not always received the attention it deserves from insurance firms. Liz Booth explains that sharing information and technology can help reduce insurance-related crime
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.
Bobby
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk