Look at these auto fraud indicators from LexisNexis research:
- 36% 18-34 year olds think it is acceptable to claim damage to vehicle was caused by a hit & run incident rather than themselves
- 26% respondents say t is acceptable to intentionally damage or abandon a vehicle in order to claim a total loss
- 40% of consumers think it is acceptable to omit or adjust data given to insurance providers.
Plenty more insights in the research (follow link at bottom of article).
How to anticipate and minimise this and more serious fraud?
- Deploy a modern, agile digital claims platform
- Add a Fraud Analytics and Detection Solution
Digital Claims Platforms that include self-service evidence collection designed to highlight inconsistencies. And naturally digitize the complete claims value chain.
Fraud Detection solutions that combine technology with the human intuition of seasoned fraud investigators and adjusters.
PI Analyticsthat speed up settling bona fide claims and detect fraud.
No need to throw away current claims or core systems and no £1million plus costs and 12 month minimum deployment times.
Avoid being a victim of the issues LexisNexis raise whilst at the same time delighting bona fide claimants and collapsing costs.
3.5 million claims digitally transformed and digital solutions at 360Globalnet
the majority of consumers are unwilling to notify insurance providers about incidents resulting in minor damage to their vehicles, even if another vehicle was involved. The research also reveals interesting variations in responses by age and gender, with more than two out of five consumers thinking it is acceptable to omit or adjust at least some data given to an insurance provider, and older consumers are less likely to think this is acceptable. The research demonstrates that there are opportunities for motor insurance providers to minimise or albeit eliminate this growing tendency amongst consumers who seek to mislead them through a more intelligent use of data that can improve products, pricing and consumer behaviour.
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