Claims fraud prevention: How insurers and brokers can work together

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Fraud is one of the biggest problems facing the insurance industry, with the perpetrators adding an estimated £44 to the cost of personal lines policies for honest consumers. In addition, according to findings from BDO's Fraud Track report published in January, insurance is the second most susceptible UK industry to fraud, with £473m lost during 2012.

With brokers a key part of the distribution strategy, their role in combatting fraud at the application stage is duly noted - but is enough being done by intermediaries to tackle fraud at the claims stage?

This article focuses on how insurers can make sure intermediaries have all the tools they need to play their part in fraud prevention.