Struggle to handle increase in data could cause fraud to escalate

More than one-third of brokers believe fraud will get worse over the next three to five years.

According to the research by EDM group, only 15% expect an improvement.

Sixty-five per cent agreed that greater digitisation of information and data will help, compared with 17% who think it will have no impact at all.

EDM group head of insurance Craig Campbell said: “One of the problems of insurance fraud is that it can be harder for companies to identify because of the huge increase in data and information that they have to manage. 

“Greater digitisation of this will make it easier for insurers to identify potential activity that could be fraudulent.”

The study was conducted as an online poll of 112 brokers in January.