Sponsored content: Simon Hoskin, director of accident and health at Gallagher Bassett, explores how to combat fraudulent claims via verification processes
In recent years, the insurance industry has become a target and witnessed a worrying increase in fraudulent claims, particularly within travel insurance. This surge has been exacerbated by the emergence of multiple fraud rings and poses a significant challenge as it threatens the integrity of the industry.
Claims management providers can make a substantial impact through enhanced customer validation processes. For instance, the majority of motor and property insurance policies utilise soft credit checks to confirm identity – a practice that should be extended to travel insurance.
This is crucial when policies are purchased via aggregator sites, which have become hotspots for fraudulent activities.
By implementing rigorous identity verification measures, we can significantly reduce the incidence of fraudulent policies and protect genuine customers. If implementing soft checks is not viable, we may wish to ask for copies of a form of ID to ensure authenticity.
Recently, the accident and health team at Gallagher Bassett UK observed a trend involving fraud rings exploiting aggregator sites.
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