Management briefing

Fraud, as the sub-title to our conference underlines, really does impact us all - as policyholders, ...

Fraud, as the sub-title to our conference underlines, really does impact us all - as policyholders, shareholders, tax payers and, of course, all of you working in the sector - in terms of time, money and reputation.

Insurance fraud is arguably the most pressing problem facing the general insurance sector - be it the trivial and opportunistic or the serious and organised. It impacts not only personal lines but also commercial lines - with the Association of British Insurers estimating the latter accounts for at least half a billion pounds.

During the past decade and beyond, there have been many well-meaning attempts to combat fraud; but real progress has only really been made in the past 18 months with the government - through the Fraud Review - the regulator, and the industry, which is now fully embracing the need for a co-ordinated approach.

Individual insurers have embraced pilots for new technology, new models and new processes. The creation of the Insurance Fraud Bureau, although unproven, is also undoubtedly a huge step forward.

Of course, putting a theoretical fraud strategy into practice is not so simple but the industry is at last starting to make some progress.

There is a long way to go but every journey starts with a single step, and we hope this supplement, and this conference, help.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: