Aviva in the news - Tackling fraud head on
You may have seen press coverage recently around the actions we’re taking to combat insurance fraud. Publications such as The Telegraph, The Guardian and The Independent reported our finding of a 19% increase in fraud compared to 2012, equating to around £110 million in 2013.
We know that fraud is a massive issue in the industry. In a recent broker survey, many of you told us that exposure to fraud in the insurance market is high and that insurers don’t do enough to detect fraud.
At Aviva, we’re taking the fight to the fraudsters, detecting around 45 fraudulent claims a day worth £300,000, all of which helps to keep a lid on the impact of fraud on customer premiums.*
Head of Fraud and Loss Prevention at Aviva, Tom Gardiner talks more about trends in insurance fraud, as well as who the typical fraudsters are in this short video.
Only half of brokers who responded to our survey had fraud checks in place at quote stage so we’re also looking at ways of raising general awareness of organised, gang related fraud and helping brokers to detect fraud early on at application stage. We’ll be able to share more about this in the coming months.
To help combat organised insurance fraud, Aviva has a team of 25 staff dedicated to detecting and prosecuting organised rings – the largest resource of any UK insurer. Aviva also works with other insurers, the Insurance Fraud Bureau (IFB) and the Insurance Fraud Enforcement Department (IFED) to share information and prosecute cases.
We’re always working on improving our fraud detection capabilities and are investing in new systems and processes to help us, as well as you the broker, in tackling this issue head on.
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