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Auto Insurance Fraud Tactics

The Road to Fraud Detection Infographic
Detecting motor vehicle insurance fraud can feel like a never ending road, with an increasing number of twists and turns that insurers need to navigate.
Auto insurance fraud has plagued the insurance industry for decades and it’s not a victimless crime. The costs associated to paying out fraudulent claims are passed on to good customers in the form of increased premiums, insurance fraud costs the average U.S. family between $400 and $700 per year in the form of increased premiums (source: FBI).

The scale of car insurance fraud can be seen when considering the range of tactics used by criminals to secure payment, some tactics such as Crash for Cash are certainly gaining public awareness but there are many others that result in premium and claims leakage for insurers.
 

Road to Fraud Detection Infographic - Click to download the full infographic

Here at BAE Systems we have been working with insurers across the global to detect and prevent auto insurance fraud as well as other fraud in the Property and Casualty space with our NetReveal solution for over 10 years.


Download a copy of our Road to Fraud Detection infographic to see some of the scams that fraudsters deploy to defraud insurers.