Motor fraud costs brokers £1.42bn in lost premiums, says SSP
SSP data shows lost premiums due to risk manipulation are hitting sector in the pocket.
Data from SSP has revealed that motor insurance fraud costs the industry a potential £1.42bn in lost premiums.
The software house said that the losses were due to customers deliberately manipulating their risk data when looking for a quote.
SSP claimed that this is the first time that the amount lost in premiums has been accurately measured and reveals the extent to which fraud is damaging the insurance industry.
Exposure
In addition to the lost premium, the software provider estimated that the
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