The Insurance Fraud Bureau has warned that smaller insurers are failing to put adequate tools in place to combat fraud.
“Smaller to mid sized insurers are falling behind,” said Mihir Pandya of the Insurance Fraud Bureau (IFB) and claims fraud manager at Allianz Cornhill. “They have the people in place to work with the IFB, but are they being supported by senior levels of management?
“I get the distinct feeling there is still some work to
do.”
The IFB officially launches in July, but Pandya warned
that some insurers had made futile efforts to establish
fraud-combating procedures.
“Don't wait for the IFB to launch, insurers should be
working out what they are doing to engage with the IFB,
and what is their success criteria, “ he said. “Talk to the
IFB now ahead of the official launch.”
It is understood the IFB has appointed a man to head up
the bureau, but his identity will be kept secret.
