We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

Allianz enjoys record breaking fraud saving year

Allianz enjoys record breaking fraud saving year | Insurance Business UK

Allianz enjoys record breaking fraud saving year

The insurance companies are fighting back.

Allianz has enjoyed a record breaking year in its battle against insurance fraud – rattling up a total saving of £62.8 million.

In among the savings have been some high-profile cases – including the Kartel “crash for cash” case that saw four defendants hit with six-month prison sentences after they claimed more than £30,000 relating to supposed whiplash injuries.

Meanwhile, the firm was also able to ramp up its fraud detection – jumping from 7.7% to 8.7% across all of its business lines and dealing with more than 5,000 claims. Its highest saving topped the £1 million barrier and related to a fire claim on a commercial property.

“We have a dedicated highly skilled fraud team who are committed to reducing fraud within the industry,” said Allianz fraud manager Nick Kelsall. “They undergo rigorous training and use new technologies to help in identifying inconsistences in cases.

“Fraud detection remains a priority for 2018 and we are determined to defend our genuine policyholders against spurious claims.”


Related stories: