What the government’s fraud strategy means for insurers

Rob Fallows, head of intelligence at law firm DAC Beachcroft, kicks off the podcast by outlining the key elements of the government’s fraud strategy and how it is relevant to the insurance sector.

With fraud now accounting for 45% of reported crime in the UK,  Clare Lunn, group head of fraud at Markerstudy, discusses the opportunities and challenges around data sharing to catch criminals.

Oliver Hanmer, managing director of Capgemini’s UK financial crime and compliance advisory practice, highlights how fraudsters increasingly operate across sectors and borders, arguing better international intelligence sharing could help industries coordinate their response more effectively.

The role telecommunications and social media companies should play in tackling fraud is also debated, with Sian Davies, head of financial crime at Admiral, hoping legislation will force platforms to address criminal activity facilitated through their services.

The discussion examines how criminals are becoming artificial intelligence-enabled and why insurers need to invest in technology to combat increasingly sophisticated fraud attempts.

The podcast also explores customer expectations around fraud prevention, policyholders’ willingness to engage with additional claims validation processes, and the growing need for cooperation to disrupt organised fraud networks.

Download the episode via your podcast provider of choice – Apple, Google, Samsung, Spotify, Audible, or more – by searching for Insurance Post.