Insurance fraud report 2020

Rapid and sweeping change in how insurers do business and fight fraud were well underway before Covid-19 erupted across the world. The pandemic has accelerated an already dizzying pace.

AI and digitising the insurance chain brings remarkable new potential to benefit insurance consumers. Yet fraudsters inevitably work to exploit such emerging new system gaps.

In this time like no other, expect to see a significant and extended surge of scams. We know fraud fighters are remarkably resilient. AI-driven fraud detection, in tandem with seasoned investigators and anti-fraud efforts, is poised to deliver greater value than ever  to insurers and policyholders
alike.

Based on input from nearly 500 insurance professionals worldwide, this 2020 Insurance fraud report focuses on the impact of Covid-19 on the fraud landscape, long-term industry trends and how insurers can adapt to fight fraud more effectively.

Topics covered include:
• Fraud detection during a pandemic.
• Data challenges for insurers.
• Accelerating a digital strategy.
• Setting a fraud-fighting culture.
• Using social media to combat fraud.
• How insurers can drive digital change safely and in a sustainable way.