19% of people think its justifiable not to disclose full truth on insurance application

Nearly one in five people (19%) believe it’s justifiable not to disclose the full truth on an insurance application – a figure that rises to 21% among those with motor insurance.

That was according to research from Ageas UK and YouGov, which worked together to uncover the public’s attitudes towards insurance fraud.

The data also showed that 12% of respondents admitted to either having committed insurance fraud themselves or know someone who has.

Meanwhile, 8% of people think it is acceptable to fail to disclose accurate information when applying for insurance and that amongst those with home insurance, one in 10 think inflating the cost of damage and the price of the insured goods are acceptable.

Brokers on ‘frontline’

Ageas also noted that brokers are on the “frontline” in detecting and preventing fraudulent activity.

”From verifying claims to navigating regulatory responsibilities, brokers face increasing pressure to detect and prevent fraudulent activity,” the insurer said.

”The operational and reputational risks they carry make fraud a shared challenge across the entire insurance ecosystem.”

Katie Davies, director of underwriting services and fraud at Ageas UK, added: “These results show that while most people recognise the seriousness of insurance fraud, there remains a notable proportion who see some forms of dishonesty as justifiable.

”This not only undermines trust in the insurance system but can also lead to higher premiums for everyone. At Ageas, we are committed to tackling fraud through a combination of advanced technology and robust investigation – ensuring genuine customers are protected and fraudsters are held to account.”