Unrecovered stolen vehicles cost insurers £450m last year
Stolen vehicles not recovered by police represent an estimated £450m cost to insurers in 2014, based on figures from a Freedom of Information request by anti-fraud company Asset Protection Unit (APU).
The number is based on data from 43 of 45 UK police forces with an estimated 59,000 vehicles lost every year and, at an average cost per used car of £7622 in 2014, this puts the value of missing cars
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Consumer trust and claims satisfaction rates on the rise
Both trust and claims satisfaction rates among insurance customers are on the rise, according to new data from Fairer Finance.
How tech and mobile repair can help with increased complexity
Rob Hawes, CEO of Rapid Repair Network, makes a case for mobile repair networks and the potential benefits it can have for alleviating claims pressures.
Big Interview: Matt Cox, Allianz UK
After Allianz UK merged the claims operations of commercial and personal lines, Scott McGee speaks to Matt Cox, the man in charge of the integration and the joint claims team moving forward.
Can motor insurers outpace digital deception?
While both fraudsters and the insurance industry are utilising technology and AI to commit and fight fraud, there are barriers to overcome and changes to be made if we want to swing the pendulum in the industry's favour.
Repair times stabilising but new manufacturers could pose new issues
While it appears the market has mostly overcome the supply chain issues of recent history, getting vehicles back on the road quickly is still a challenge, with new manufacturers causing a new issue.
Diary of an Insurer: Ticker’s Rachel Green
Rachel Green, fraud manager at connected motor insurer Ticker, catches the "bad guys", digs deep into the data, judges developments shaping the industry, trains the in-house AI fraud detection system, and ends the week with a trip to a tumble class.
Telematics must move from pricing risk to preventing it
Liam Parker, telematics and first notification of loss manager at Winn Group, explores how insurers can move beyond pricing to use telematics and behavioural data to prevent collisions, improve claims outcomes, and foster safer driving.
Aviation losing money despite being ‘safest it’s ever been’
At the Marsh Aviation Summit, aviation underwriters lamented a lack of infrastructure investment and low profits, despite safety levels being as high as ever.