Insurance Fraud: Why are you letting the fraudsters get away with it?

Luke Taylor
Author: Luke Taylor CCO & Deputy CEO
Date: 17th June 2014
Categories: Technology

The media has recently been full of articles surrounding the fact that insurance companies are losing millions to fraud. So I’ve been asking myself, why aren’t they investing heavily in Fraud Management Software to mitigate and prevent this?

A recent article by the Guardian says the Association of British Insurers (ABI) reports £1.3bn of fraudulent claims were made last year – a rise of 18% since 2012 and equates to £3.5m worth of insurance frauds being uncovered every day!

So I’d like to boldly ask insurance companies, it’s all very well these huge losses being reporting but why are you letting the fraudsters get away with it? Especially when there are solutions out there that can reduce your losses, help you keep hold of your revenue and stop the fraudsters. Can anyone explain to me how the problem is being tackled and why this figure has increased.

One of the answers is SIMPLES J – Neural Technologies provides software to mitigate insurance fraud.

With tested software that analyses data globally for huge companies like Orange, Three, Zain and O2, Neural Technologies solution detects fraud/risk and can give you full ROI in a matter of weeks!

Surely it is worth asking for information on how we do this!

Talk to me.


Sara Whitwell

Senior Marketing Executive at Neural Technologies