CLIENT ZONE

Fighting Fraud in a time of Cut Backs

Fighting Fraud in a time of Cut Backs

For some time now, RGI Solutions has been warning Insurers about a predicted increase in Insurance fraud.  It is no secret when times get hard people consider other ways to make money, and with the huge increase in the cost of living now is not the time to be cutting back on Fraud Investigation.

 

We have spoken to many of our clients recently whose focus is quite rightly surviving in this crisis and making cut backs wherever they can and unfortunately for us or fortunately for the Fraudsters, investigations and fighting fraud tends to be the area which gets cut.  From our experience cutting back on fraud investigation at this time is not the right decision as this will no doubt cause financial implications in the long run.

GADGET CLAIMS

We have noticed a huge rise in Gadget claims, it’s easy, it’s quick and is often not a focus for Insurers as it’s ‘simply not cost effective’ or is it?   Think about it this way, the lengths and time people go to for a simple whiplash claim, why do this when you can get the same money from a 2 minute, no fuss gadget claim and potentially putting in the same claim with multiple insurers?

What if we could offer you a cost-effective approach that would see a 350% return on your investment and a 55% rejection rate?  This is currently the service we offer our existing clients.

GAP CLAIMS

This has been a key focus area for RGI Solutions over the last year or so, GAP claims are definitely on the increase.  Fraudsters are now understanding what this is and how this can benefit them financially.

Unfortunately, or again fortunately for fraudsters a lot of GAP claims are paid simply because the Motor Insurers have settled, this is a huge mistake.  All of the fraudulent claims that come through to us have been settled by Motor Insurers and we find this is the first thing the fraudster points out to us “my motor insurers did not do this, why are you now asking me questions”?

The usual signs of a fraudulent claim are that the GAP policy is coming to the end of its term or the claimant is experiencing financial difficulties.  However, we are also experiencing this is part of a bigger scam involving several other people in a large staged accident.  Our investigations have been key in bringing these fraudsters to justice, saving our clients thousands of pounds and also assisting the Motor insurers to recover their outlay.

If you are interested in hearing more and want to know how we can help you Fight Fraud, then please do not hesitate to contact me.

Donna Emmett

Author:  Donna Emmett

Associate Director Desktop Investigations