Fraud Spotlight: Insurers face ‘cat-and-mouse’ with fraudsters

There has been a marked increase in opportunistic claims fraud, according to the Insurance Post Fraud Survey 2024.

The survey of insurance fraud leaders, which was sponsored by LexisNexis Risk Solutions, found that more than 83% of respondents had reported that this type of fraud was on the rise. This was followed by professional or organised claims fraud (52%) and criminal activity at the application stage (33%). However, identity fraud made a leap from sixth place last year to become the fourth largest area where fraud is rising.

Based on the survey results and featuring input from Ageas, Aviva and QBE, this spotlight sheds light on the latest insurance fraud trends.

Topics covered include:
• Fraud typologies on the rise.
• Deploying data and technology to address fraud.
• Counter-fraud strategies and investment priorities.
• Operational challenges.