Alarming figures the UK’s primary fraud prevention service has revealed, with household and motor claims topping the illegal charts.
360Globalnet has shown that over 35% of home insurance claimants ** withdraw claims with its digital claims platform 360Siteview . In other words once they start the self-service FNOL with a brief text description of the loss or damage and then have to add photo and video evidence they see the "story" unravel.
Adjusters/claims handlers see conflicting evidence in the "single Digital Record" of the whole claim from FNOL to settlement (including the meta data from smartphones and tablets) and find it easier to bring in fraud at an earlier stage.
This weeds out opportunistic fraud but the hardened professional is a different matter alternating their MO to beat AI driven programs many a time.
A combination of technology and good old human intuition will still catch many of these.
Time to take action.
** Over 3.6 million claims processed globally providing incontrovertible proof
The number of people falsely claiming on their insurance policies has increased by more than a quarter in only a year, the UK’s primary fraud prevention service has revealed, with household and motor claims topping the illegal charts. Fraudulent claims in household insurance are up by a staggering 52 per cent in the last year, with claimants aged 31-40 the biggest culprits, according to Cifas. Motor insurance fraud is up by 45 per cent with 21- to 30-year-olds the most likely age group to commit this kind of offence.