Fraud
LV’s checks catch serial travel insurance fraudster
A man who changed his name multiple times by deed poll and used the identities of his family and friends to make bogus travel insurance claims worth an estimated total of £75,000, has been sentenced.
Zurich’s Clayton calls for travel insurance claims fraud database
Scott Clayton, head of claims fraud at Zurich, said the industry needs to share travel insurance data and create a database to crack down on fraudulent activity.
Scale of motor insurance quote manipulation laid bare
Data analysis: As the cost-of-living crisis caused a growing number of people to feel the pinch over the last two years there has been at least a 20% uptick in quote manipulation, analysis of 360 million quotes has revealed.
SimplyBusiness and Zurich partner; Howden buys Hencilla Canworth; Flood Re joins Biba
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
How struggling consumers are committing one-off frauds
With fraudulent claims adding £50 every year to the total cost of household insurance, Sarah Durkin, head of counter fraud at Woodgate & Clark, explains how the growing number of policyholders feeling the pinch is resulting in exaggerated claims.
Allianz exposes fundamentally dishonest hearing loss fraudsters
Allianz, along with DWF, has successfully seen two court cases for noise-induced hearing loss dismissed by judges, following the claimants being found to have been fundamentally dishonest.
SSP in a ‘process’ to rebuild trust with clients
Following a data breach in November 2022, as well as other disruptions over the past few years, SSP has been investing in its security measures and is currently in a process to rebuild trust within the industry
How the Post Office scandal set a new precedent for ATE insurance
Alan Pratten, chair of M&A, litigation and tax insurance solutions at Gallagher, details the broker’s involvement in the well-publicised Post Office scandal, and how this particular case changed the placement of after the event insurance.
Allianz’s claims fraud savings; WTW’s cyber facility; Biba’s London committee chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Q&A: James Nicholson, Zurich
James Nicholson, chief claims officer of Zurich UK, shares how the provider plans to do more retail and mid-market business and how it uses artificial intelligence to handle claims.
Post launches new Benchmarking Service
Insurance Post’s unique service will benchmark UK insurers’ strategies across key areas, including claims, fraud and technology.
Biba’s budget demands; Tokio Marine’s deal with Lavaretus; NFU’s first commercial head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Jersey duo jailed for £3.3m insurance fraud
A Jersey court has imprisoned two men for conspiring to defraud one of the bailiwick’s oldest insurers out of £3.3m over a 13-year period.
Man sentenced over 45 bogus claims for broken TVs
Cross-industry checks have led to a man who took out 87 home insurance policies and made 45 bogus claims for broken televisions getting a suspended sentence.
Insurance must prepare for a rise in deepfake AI fraud
Scott Clayton, Zurich’s head of fraud, shares how rapidly developing technology and digital manipulation threatens to put additional pressure on claims handlers, as deception becomes harder to spot.
Fraud ring uncovered by Keoghs and major retailer
Following a three-year investigation, Keoghs and an unnamed major retailer have exposed and convicted a sophisticated fraud ring.
How cyber criminals are using AI to attack targets faster
Andrew Martin, CEO of UK-based cyber security software firm DynaRisk, highlights the alarming trend of cyber criminals leveraging artificial intelligence tools, such as ChatGPT, to enhance their malicious activities.
Ghost broker sentenced after targeting Sudanese motorists
A ghost broker who targeted Sudanese nationals living in the UK has been sentenced after LV’s fraud team spotted six motor insurance policies that he took out using false information.
How regulation, AI and customer expectations are transforming claims
Amid regulatory change and customer expectations shifting from simply getting the pay-out to requiring a streamlined process, Patrick Hayward, consultant at Altus Consulting, explores the ways insurers are updating claims processes.
Fake documents for £150K claim costs claimant £20K
A court has ruled a dishonest claimant, who faked documents used to submit a £150,000 personal injury claim to Allianz, must cover at least £20,000 of the insurer’s legal bill.
Why open claims ecosystems are required
To deliver a claims service that customers can rely upon and insurers can be proud of, Chris Sawford, managing director at Verisk, argues collaboration between providers, technology partners, and solution providers is needed.
Broker Review of the Year 2023
Brokers reflect on overcoming tough market conditions in 2023 and share their hopes of seeing Justin Bieber at the Biba conference in 2024 “just for the pun of it”.
Opportunistic fraud claims on the increase in 2023
Sedgwick has reported an increase in low-value and opportunistic claims fraud in 2023.
Claims and Legal Review of the Year 2023
Looking back at 2023, law firms and claims professionals reflect on how double digit inflation hit the sector and look forward to artificial intelligence speeding-up administration in 2024.