Communication breakdown
The exponential rise in spurious claims in recent years highlights that many consider the insurance industry a soft touch when it comes to defending against fraud. However, validating the identity of potential policyholders and better cross-industry communication could be the key to curing an epidemic, says Edward Murray
It is ironic that, in an industry that prides itself on being 'people driven', that communication between firms operating in insurance can often be so poor. This has been one of the main factors holding back the ongoing fight against fraud and, although some progress has been made to improve communications, there is a long way to go.
It is not only insurers, brokers and loss adjusters that must communicate better. The whole insurance industry must communicate with its credit industry counterparts
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