But one in ten still likely to commit it…
Nearly one in ten adults (8%) admit to making fraudulent insurance claims, according to a recent consumer survey by Experian.
The survey aimed to uncover consumer attitudes towards insurance fraud and has found that the majority of the population (91%) firmly believes that insurance fraud is a serious offence, but only a relatively small proportion (14%) would definitely report someone who had actually committed insurance fraud.
David Murby, managing director of Experian's Insurance Services division, said: “The survey revealed that people are well aware of what constitutes insurance fraud and consider it a fairly serious crime, which is not victimless, but they see it as a crime against an organisation rather than an individual and, as a result, appear less likely to report it.
Overall, there is a perception amongst the public that the cost of insurance is high and the benefits are rarely seen. Consumers feel that they want to get value for money from their insurers so many, when making a claim, are likely to exaggerate it in the belief that the chances of getting caught are minimal.
David Murby added: “Fraud is a relatively new specialist area in insurance companies, with fraud itself previously being viewed primarily as exaggerated claims. However, insurance fraud is evolving, and there has been a significant upsurge in organised fraudulent activity with complex fraud rings, new types fraud, such as ‘slam-ons' and staged accidents, contributing to higher premiums and greater pressures on the insurer-customer relationship.”
