Insurance Insights:
The Growing Menace of Application Fraud
Shyam Bhatt, Insurance Counter-Fraud Solutions Consultant, BAE Systems
No sooner does the net around fraudsters start to tighten than they find new ways to manipulate the system and make illicit gains. Application fraud has emerged from the shadows to become a prominent tactic in the modern fraudster’s arsenal – creating a growing issue for the insurance sector.
Explore the chapters of our report to see the impact of application fraud, evaluate the approaches fraudsters are adopting and see ways to tackle this increasingly alarming trend. Learn more below:
Introduction
Introduction
Ghost Busting
Ghost Busting
Ghost brokers offer cheap insurance and advertise on websites which are difficult to police.
Doubling Down
on Duplicity
Doubling Down
on Duplicity
The Ruinous Results
The Ruinous Results
Application fraud has a direct commercial impact on insurers.
The Counter-Fraud
Fightback
The Counter-Fraud Fightback
Applying the Brakes
to Application Fraud
Applying the Brakes
to Application Fraud
Shyam Bhatt
Insurance Counter-Fraud Solutions Consultant, BAE Systems
Shyam Bhatt joined BAE Systems as an insurance fraud subject matter expert having worked at the Insurance Fraud Bureau for six years. Whilst there he helped launch a leading industry intelligence system and was a stakeholder in numerous counter-fraud initiatives such as the Counter Fraud Data Alliance. At BAE Systems he has consulted and provided support on a number of insurer counter-fraud solutions in the UK.