Allianz Commercial clamps down on rising fraud

Allianz Commercial has prevented £36.8m worth of insurance fraud in the first half of 2022, up 23% on the same period last year. It saved £17.3m in casualty (up 26.6% on H1 2021), £10.3m in property (up 40.6% on H1 2021) and £9.2m in motor (up 2.8% on H1 2021).

James Burge, head of counter fraud at Allianz Commercial, said: “With every economic downturn, insurers see a rise in fraud. At the moment, at Allianz Commercial, we’re particularly wary of opportunistic fraud, whether it is committed by or against businesses.

“Our teams are doing a great job of detecting dishonest claims and we’ll maintain our efforts to make sure that payouts go to genuine claimants. When times are hard, we need to help customers and claimants who actually need our support.”

Allianz Commercial highlighted three trends it had seen in fighting fraud. The first is individuals lying about personal injuries to bring a claim against a business. The second is small businesses exaggerating what started as a genuine claim. The third is applicants falsifying documents to obtain a cheaper quote.

Image courtesy of Allianz Commercial.

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