Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 15th of October 2018
August 24, 2012

Insurance fraud attempts drop 16%

by Richard Kilner

Story link: Insurance fraud attempts drop 16%

Attempts to commit insurance fraud have declined by 16% between April and June 2012, accoridng to information and data company Experian.

Research conducted by the firm found that during the three month period 10 out of every 10,000 insurance policy applications were found to be fraudulent, down from 12 last year.

The vast majority (86%) of attempted fraud was committed by first-party fraudsters who used their own identity but provided false information for other matters.

The financial sector more generally has also seen a more modest decline in attempted fraud of 3% during the same period.

Tiger.co.uk Commercial Director Andrew Goulborn described the news as encouraging for the insurance industry but warned that it was too soon to say whether it would have good implications for the UK’s honest motorists.

The decline in attempted insurance fraud follows a 37% rise in it during the first three months of 2012 when 13 in every 10,000 applications and claims were found to be false.

 

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