Insurance Council of Australia: Insurance Industry Boosts Fight Against Fraud and Scams
Andrew brings a wealth of experience in investigating insurance fraud, having served for 24 years as a detective in the fraud and cybercrime squad for the
In 2023, ICA members detected
These undetected cases drive up insurance premiums and are resulting in significant harm to customers and the economy.
The counter fraud and scam function will provide an industry-wide capability focused on detecting organised fraud networks and identifying emerging fraud-related trends or criminal scams.
The function will collaborate with ICA members to collect intelligence on organised fraud to increase the capability of insurers in detecting and stopping insurance fraud, in addition to working with governments and their agencies in their renewed efforts to combat and fraud scams.
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Quote attributable to counter fraud function CEO
Organised fraud is costing the insurance industry millions of dollars each year, and this cost is reflected in everybody's insurance premiums.
By reducing fraud, we can have an impact on the cost of a premium and ensure that insurance customers are not paying for the unlawful and unfair acts of organised crime.
I look forward to starting in this new role and working alongside the
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Quote attributable to
On behalf of the
Andrew will lead the new function as it becomes a standalone entity, external to the ICA, working with insurers to reduce the cost of fraud and scams to insurance customers and the community.
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Original text here: https://insurancecouncil.com.au/resource/insurance-industry-boosts-fight-against-fraud-and-scams/
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