KGM appoints fraud manager
by Gill Montia
Story link: KGM appoints fraud manager
KGM Motor Insurance is upping the fight against spurious insurance claims with the appointment of a fraud manager.
David Wells’ role at the specialist motor insurer involves both strategic and operational aspects, developing and overseeing “rigorous fraud and financial crime management processes” across the business.
Mr Wells is moving from Highway Insurance, where he has spent the past six years as special projects manager for fraud, with a particular remit to target organised fraud.
KGM’s Active Underwriter, Colin Hart, comments: “This is a key appointment for us, we are very pleased to have David on-board. He has exactly the skills and experience we are looking for in this role.”
Last month, the Insurance Fraud Bureau reported that insurers are winning the battle against “crash for cash” fraudsters.
The Bureau has been working jointly with Police forces across the UK to disrupt the actions of criminal gangs involved; it currently has 25 active joint Police operations spread across 13 Police forces.
Particular areas showing improvement include Luton, East London, Harrow and Walsall.
Other areas to have seen “crash for cash” levels stabilise include Birmingham, Uxbridge and London North-West.
The Bureau estimates that fraudulent insurance claims add approximately £40 to every annual premium paid by honest policy holders.