According to the ABI, fraud costs the UK travel insurance industry £3.6 million a day, pushing up premiums for everyone, so it is welcome that only 10 percent surveyed say fraud isn’t a big problem, and that so many consumers would welcome a clampdown.
(PRWEB) December 27, 2017
The online research shows 49 percent say fraud is a crime and should be clamped down on by the authorities; travel insurance tech specialist, Aquarium, is delighted that 30 percent of respondents want to see a greater use of technology to weed out fraudulent claims.
Fraud has been given as one of the main reasons why one in five backpacker claims are submitted in the last few days of a trip, and several cases have appeared in the press in recent years, as the authorities and insurers have become better at spotting spurious claims. The latest smartphone technology, while delivering a better customer journey for genuine claims, is now making criminal claims all the harder to slip through the net. “According to the ABI, fraud costs the UK travel insurance industry £3.6 million a day, pushing up premiums for everyone, so it is welcome that only 10 percent surveyed say fraud isn’t a big problem, and that so many consumers would welcome a clampdown,” said Aquarium Director, Mark Colonnese.
“Today’s technology can unpick a rogue claim faster than many people probably realise is possible,” added Mark. “Insurers can validate a genuine claim and get help fast to those who need it most, but it also means fewer hiding places for would be fraudsters. Even highly sophisticated scams are being caught now, so advice to criminals and hard up chancers is not to try it – you won’t get away with it and a good proportion of the general public want you prosecuted, if you do,” Mark said.
Fraud is now seemingly as socially unacceptable as drink driving, as all of us pay the price in higher premiums so it is not a victimless crime. The scale of the problem needs to be kept in perspective, however, especially when you consider that 69 percent of the public has never made any sort of claim on a travel insurance policy. “We now live in a global village and given the instantaneous sharing of relevant information, this means that distance travelled cannot save an insurance claim from scrutiny,” concluded Colonnese.
Aquarium Software is used by a number of travel insurers; pet insurers; and other consumer service providers and affinity partners in the UK, Europe, USA and Canada. For further information contact Aquarium Software on +44 (0)161 927 5620 or visit http://www.aquarium-software.com