Case Study

Can UK lessons help address insurance fraud in Ireland?

Can UK lessons help address insurance fraud in Ireland?

Pages 2 Pages

www.baesystems.com/businessdefence Q: What’s the economic backdrop to the rise in Insurance Fraud? A: Since around the time of the financial crisis of 2008, there has been significant strain on the finances of much of the general public. As in many other countries, this created more of an appetite to conduct opportunistic types of fraud. In addition it was difficult for many Insurers to make investments and this lead to a situation where insurance premiums were spiralling. Against this backdrop of opportunistic fraud, organised criminal groups have been taking advantage. Fraudsters have been driven away from targeting UK Insurers, who have over recent years, invested heavily in their fraud defences. However in order to maintain a revenue stream they have taken some of the s

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