Insurance Fraud Register
A new national database containing names of proven insurance fraudsters is set to become available in the UK. The Insurance Fraud Register (IFR) will be available to all insurers across all insurance product lines including car insurance and is hoped to ‘deliver a serious blow to insurance cheats’ according to the Managing Director of the software firm involved.
The project, a joint venture between the Insurance Fraud Bureau, ABI and appointed software specialists Detica NetReveal, is the latest in a range of measures aimed at beating insurance fraud.
As new applications for insurance policies are being processed insurance companies will be able to reference the IFR to identify individuals who have been reported as committing insurance fraud previously. Richard Davies, Head of Fraud at AXA and a leader of the project, has been quoted as saying that consumer organisations will be informed as to the purpose of the register and insurance companies will remain committed to paying out genuine claims as quickly as possible.
A number of insurers will be working closely with the IFB to test out database integration systems in the run up to the launch of the register which is currently scheduled for July 2012.
Andrew Goulborn, Commercial Director at car insurance quote site Tiger.co.uk commented, “For some time we have been calling for the government to crackdown on uninsured drivers and other areas of motor insurance fraud so as not to penalise the country’s law-abiding motorists. This is therefore an important development in the fight against this type of fraud, which is widely believed to add an estimated £50 to the price of every policy. This initiative should go some way towards helping insurers to save thousands of pounds in fraudulent car insurance claims and to help protect honest motorists.”