If consumers think motor insurance is over-priced, it is perhaps unsurprising that many should be tempted to mislead insurance providers, or hide information from them, to try to reduce the cost of their premium.
We wanted to understand to what extent consumers believe it is acceptable to mislead insurance providers, and to find out which groups of consumers are most likely to try to do this. To find out, LexisNexis Risk Solutions commissioned a survey of 1,500 UK consumers with equal or sole responsibility for insuring the vehicle they drive most often.
This whitepaper provides analysis of the research findings and the implications for insurers.
• Using data to improve products, pricing and consumer behaviour.
• Claims trends and attitudes by age group.
• Attitudes towards reporting minor incidents if repair below excess.
• Are younger people more honest?
• Acceptability of omitting/adjusting data to keep premiums low.