Fraud blog: Fundamentally Honest
Welcome to Fundamentally Honest, the blog on all things fraud from Kennedys’ experts.
Whatever your involvement and interest in insurance and claims fraud, we are here to keep you up to speed on developments in legislation, procedure, case law, innovation and technology, best practice, claims investigation, the latest thinking and more.
We will share our experience and insight with both UK and global perspectives and bring you guest writers from across the industry.
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Kennedys were instructed by the insurer of a steel fabrication company to defend a personal injury claim brought by an employee following an accident at work in July 2017. The Claimant had sustained a genuine injury, but grossly exaggerated their claim, resulting in a discontinuance at trial and savings of over £100,000 for our insurer client.
When we investigate coordinated fraud activity (aka fraud rings) we look for commonalities, relationships and trends that bind claims together. I often think back across the many fraud ring investigations I have been involved in, and the names they are given.
Sometimes claims fraud is obvious, indisputable evidence lands on your desk and defeating the claim becomes just a matter of time.
This week we’re back with the third part of this series where we consider the possible impact of civil reform and consider how fraud will remain a persistent problem for insurers and other compensators with new processes to exploit.
Fundamental dishonesty is one of my favourite things and it always intrigued me that there was concern that the lack of a rigid definition is a negative thing.
In the second part of this series, we get back to basics and explore what exactly constitutes insurance fraud and how it's evolving.
Insurance fraud costs, and the problem is a global one. Over the next three weeks in this serialised article we will look ahead at what the future of fraud looks like in the claims sector.
With insurer digital claims strategies, integrated data via web-enabled APIs and the Claims Portal we are more data rich than ever before with quality, quantity and depth to allow greater sophistication in fraud detection.