Fraud
Lamppost liar loses £600K claim
HF and Hastings Direct have successfully contested a £600,000 claim based on conflicting passenger references and no evidence of vehicle damage.
Insurance Post’s Top 90 MGAs revealed
Ardonagh Group, Brown & Brown, Gallagher, Markerstudy and Policy Expert are the UK’s five biggest MGAs.
Big Interview: Sten Saar, Zego
Sten Saar, co-founder and CEO of Zego, speaks to Damisola Sulaiman about the challenges of building an insurtech in an evolving landscape, the lessons he learned entering the complex world of insurance as an outsider, plus his plans for growing the…
Diary of an Insurer: Axa Partners’ Beth Buckland
Beth Buckland, operations director of Axa Partners, manages to squeeze in some Pilates to a packed working week, which includes a sensitive case review meeting, encouraging colleagues to think more creatively, and handling a media query about a declined…
Sompo’s marine proposition; Lockton’s charity walk; Allianz Partner’s travel director
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Zego aims to double staff output through AI use
Zego CEO Sten Saar plans to double staff output through generative artificial intelligence use.
Brace yourself: Dental injury claims quadruple
Insurers have seen a marked uptick in claims involving dental injuries in the last three years, according to law firm HF.
Insurers need to be ready for AI ‘arms race’ in fraud
The proliferation of artificial intelligence is going to heap more pressure on the insurance industry to use “technology to fight technology”.
Insurance sector ready to shake off ‘elitist’ tag over fraud data-sharing
The insurance industry could be less elitist around data and intelligence sharing to help combat fraud, according to leading market practitioners.
MIB holds ‘initial’ talks with stakeholders about modernising CUE
The Motor Insurers’ Bureau has held initial talks with stakeholders about the possibility of modernising its claims database, CUE.
ABI fraud head hails joint effort in combating cannabis farm property claims
The insurance industry’s efforts to stamp out the ongoing problem of illegal cannabis farms in partnership with the police and other agencies, has been singled out as a sign of the potential of what can be done with wider data sharing.
Fraudster given jail time after faking driving documents and hiding offences
A man has been given jail time after he sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate.
Almost all claims handlers believe AI is creating fraudulent claims
94% of UK insurance claims handlers believe at least 5% of claims are being fraudulently created or altered using artificial intelligence.
Cyber market to harden ‘as early as Q1 2025’
Research from Gallagher Specialty has warned there could be a shift in the cyber insurance market by as early as Q1 2025.
Twenty firms face off for Lloyd’s Lab spots
The Lloyd’s Lab pitch day for its 13th cohort saw 20 firms go head-to-head for one of 10 spots in the market’s 10-week fast track programme for “fresh ideas” to challenge the insurance industry.
How fraudsters’ fake documents and images are challenging insurers
Fraud trends have moved on since the pandemic and now insurers face the challenge of tricksters who generate fake documents and imaging, insurance professionals gathered at the Verisk Insurance Conference in London were told yesterday (5 September).
Police warn insurers about uptick in deepfake fraud
Detective Chief Inspector Tom Hill, head of unit for the Insurance Fraud Enforcement Department at the City of London Police, has warned audio and visual manipulation enabled by technology, also known as deep fakes, is a major growth area for insurance…
Vet nurse bitten for £13K pet insurance fraud
A veterinary nurse has been sentenced after making more than £13,000 worth of fraudulent insurance claims to Allianz for her pets using the systems at her workplace.
Car and motorcycle complaints hit record levels
Financial Ombudsman Service statistics show a record number of new cases for car and motorcycle insurance at the start of 2024.
Top risk for UK businesses; WTW’s latest launch; Lloyds Bank’s head of insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Ardonagh buys broker; Compass offers beach hut cover; Minster Law’s hire
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Fraudster who repeatedly targeted RSA is jailed
A man who repeatedly filed fake home insurance claims to RSA for broken phones, laptops and televisions using a variety of false identities, has been jailed for 20 months.
Big Interview: Helena Evans, Criterion Adjusters
Helena Evans, managing director of Criterion Adjusters, speaks to Emma Ann Hughes about the sexism she encountered, growth plans for her business and her hope to encourage others to follow her lead and pass their Chartered Institute of Loss Adjusters…
Why data-sharing is essential to fighting travel insurance fraud
Following Scott Clayton, head of claims fraud at Zurich, stating the industry needs to share travel insurance data and create a database to crack down on fraud, Tom Luckham examines what it will take to stop travel being an easy target for false claims.