General Insurance Article - Insurance intermediaries expect fraud to deteriorate

 New research from EDM Group reveals that 35% of insurance intermediaries expects the problem of fraud facing the industry to become worse over the next three to five years. Only 15% expect an improvement here.

 A key to tackling this problem is greater digitisation of information and data. Some 65% of intermediaries think this will help, compared to only 17% who think it will have no impact at all.

 Craig Campbell, Head of Insurance Sector at EDM Group, said: “One of the problems of insurance fraud is that it can be harder for companies to identify because of the huge increase in data and information that they have to manage. Greater digitisation of this will make it easier for insurers to identify potential activity that could be fraudulent.”