"To combat fraud, robust procedures must be in place as well as modern technology."
BLM partner Mark Aitken has spoken to Insurance Day about how insurers must be ever-vigilant when it comes to property-related fraud. In 2018, the ABI recorded just under 100,000 fraudulent property claims - insurers must remain vigilant both at the claims and the underwriting stages as fraud continues to rise.
Mark says, "It is now more than 30 years since insurers started to actively mobilise against fraudulent insureds with counter-fraud resources made available and the creation of claims validation teams. At that time, academics and other commentators on the subject became more prevalent as they sought to collate the insurance fraud experience across both national jurisdictions and types of risks exposed to fraud."
You can read Mark's full article on the Insurance Day website, here.