Allianz has posted figures for 2017 showing it was a record year in fraud savings for the company, saving £62.8m
Last year was a record year in fraud savings for Allianz, recording a total saving of £62.8m.
The German insurer posted the figures today, revealing that the company’s fraud detection across all lines of the business increased from 7.7% to 8.7%, dealing with 5,000 claims. The highest saving was at just over £1m on a fire claim submitted on behalf of a commercial property.
Other successes for the insurer in 2017 included the Kartel ’crash for cash’ case, which saw all four defendants involved handed prison sentences for six months each after claiming over £30,000 for whiplash compensation.
Allianz’s fraud manager, Nick Kelsall commented: “We have a dedicated highly skilled fraud team who are committed to reducing fraud within the industry. They undergo rigorous training and use new technologies to help in identifying inconsistences in cases.
“Fraud detection remains a priority for 2018 and is determined to defend its genuine policyholders against spurious claims.”