Good morning,
I hope your Monday went well.
Here’s some more interesting news that I’d like to share about fraud claims figures published by the ABI.
During 2019, insurers discovered a total of 107,000 fraudulent insurance claims worth approximately £1.2bn. Compared to 2018, this is a 5% increase on the fraudulent claims detected. This equates to a new insurance claim scam every 5mins (approx. 300 per day):
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I believe fraud will always exist to some extent within our culture, but we can manage these risks better by looking at what triggers we need to measure it by.
By having a Data Analytics framework in place, it can significantly help us mitigate these types of transaction.
If you’re keen to minimise your risk to fraud, please do reach out to ARGenesis, because we have the tools and knowledge to help you put in place a Data Analytics framework to help you minimise your exposure and losses.
Best regards