Fraud a ‘major issue’ for motor industry, says Allianz

New research from Allianz Insurance has revealed that 59% of motor fleet managers believe they have experienced fraud.

According to the insurer, 36% of managers confirmed their organisation had been a victim of fraud, while a further 23% said they suspected they had been targeted.   

It comes as Allianz said that fraud is a “major issue” for the motor industry, with research from the ABI revealing that 55,000 fraudulent claims were detected in 2018, worth £629m. 

An independent survey of 100 motor fleet managers also found that 59% of respondents have taken measures to prevent fraud. 

Research also revealed that 74% of motor fleet managers expected at least one vehicle in their fleet to have an accident within the next month, with 62% agreeing that the support of a broker was “invaluable” when making an insurance claim.

A further 94% had made insurance claims on behalf of their drivers, though delayed claims notifications were still rife.. 

The top reasons cited for this included drivers not telling fleet managers about the accident (41%), there was no online facility to make a claim (28%) or claimants didn’t have time (20%).

Tony Newman, head of motor claims, Allianz Insurance said: “With so many businesses affected by motor insurance fraud, it’s not surprising that 59% of fleet managers say they’ve taken preventative measures. 

“However, this still leaves a worrying proportion at a heightened risk of fraud. All drivers need to be aware of the types of fraud that might affect them. Educating drivers about what to do in the event of an accident and ensuring they have all the necessary tools to collect the necessary information will help with claims. 

He added: “Quicker notification of claims could ultimately bring down the overall total as delays in notifying sometimes result in an increased cost.”

 “We want to protect our fleet managers and their drivers during the general claims process but also by making life as hard and difficult for the fraudsters as possible. Staying vigilant, understanding the risks and engaging with your broker and insurer as early as possible will all help.”  

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