Skip to main content

Will the cost-of-living crisis lead to more insurance fraud?

Sponsored by ?

This resource was paid for by a contributing third party.

Will the cost-of-living crisis lead to more insurance fraud?

A recent survey by Insurance Post in association with LexisNexis Risk Solutions found that 98.1% of respondents believe the current economic conditions in 2022 will impact organised and opportunistic fraud volumes. The research also found that 79% of respondents had seen a rise in opportunistic claims fraud, ranking it as one of the most challenging types of fraud identified as it follows no discernible pattern.

This content sheds light on the key survey findings and how the escalating cost-of-living crisis is impacting the insurance fraud landscape.

Topics covered include:
• How will current economic conditions impact organised/opportunistic insurance fraud volumes?
• What fraud typologies are counter-fraud teams seeing the biggest increases in currently?
• Which areas of the underwriting/claims/investigation process are existing technologies most effective?
• What societal and technological changes are most concerning from an insurance fraud perspective?
• Is social media a source of fraudulent activity?
• The importance of data sharing.
• Educating consumers.

Download the analyst report

Register for free access to hundreds of resources.

Already registered? Sign in here.

 

Your alert preferences

More related resources

Surge in ghost broking spooks insurance sector

Data from Synectics Solutions’ National SIRA intelligence consortium shows a 93% increase in victims of impersonation fraud having their identities used in ghost-brokered policies. This content sheds light on the forces driving ghost broking fraud and the need for stronger cross‑sector intelligence.

Insurance document fraud moves upstream

From fake-damage imagery and forged repair invoices to number plate swaps on photos of genuine accidents, insurers are reporting record levels of claims document fraud driven by AI manipulation. This content explores how AI enabled document fraud is moving beyond claims and into underwriting.

Building an autonomous insurance platform: the future that's already here

Most insurers operate fragmented architecture built over decades for claims, policy management, billing and underwriting. This blog highlights the true cost of operating siloed systems and how technology leaders can close the gap with a single, reusable AI layer that sits on top of core systems.

The changing face of insurance fraud

The motivations to commit fraud remain largely unchanged, but the tools available to fraudsters are becoming more powerful by the month. This content focuses on the changing face of fraud, based on the key findings from Insurance Post’s latest fraud prevention survey, in association with CRIF.

Infographic: The UK’s rebuild cost gap is changing

In 2026, just 8% of UK properties are insured for the right amount. Based on data from 46,917 rebuild cost assessments completed, this infographic sheds light on the accuracy of building sums insured for residential and commercial properties, plus the top ten most underinsured property types.

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 individual account here