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Allianz chief underwriting officer, Neil Clutterbuck, comments on IFED's fraud campaign

News   •   Feb 05, 2018 10:25 GMT

“These latest figures from IFED demonstrate the severity of ghost broking and the level of sophistication employed by the fraudsters, who target and exploit vulnerable individuals or those who might struggle to obtain cheap cover.

“While the industry has made great progress in clamping down on many unscrupulous practices, fraudsters are adept at finding new ways to play the system. Strong fraud teams and investment in software and technology are key to identifying potential fraud at application stage. It’s also important that insurers collaborate with the broking community and authorities, to make sure that we identify potential issues and aren't seen as an easy
target by criminals. Staying vigilant and taking a proactive approach is essential if we are to stamp ghost broking out for the benefit of the honest customer.”

Neil Clutterbuck, chief underwriting officer, Allianz

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