Insurance Fraud Bureau (IFB)
Website
: http://www.insurancefraudbureau.org
Overview
Launcehd in 2006, the IFB is a not for profit organisation funded by
the insurance industry, specifically focussed on detecting and
preventing organised and cross industry insurance fraud.
The IFB was formed because organised fraudsters increasingly use
insurance as a way of making money, and the industry agreed that the
best way of dealing with the problem is for all insurance companies to
work together. The IFB collects claims and application data from across
UK insurance providers which it uses to identify patterns and
activities suggestive of fraud.
The IFB collates and combines data contained within industry claims and
policy databases (Claims and Underwriting Exchange [CUE, managed by
Insurance Database Services Ltd], the Motor Insurers Database [MID,
managed by the Motor
Insurers' Bureau], and the Motor Insurance Anti Fraud and Theft
Register [MIAFTR, powered by HPI]. Supplementary data is sourced
directly from participating insurers to build a detailed intelligence
picture of potentially fraudulent activity.
The Association of British Insurers (ABI) estimates undetected general
insurance claims fraud totals £1.9bn a year. Of this figure, the
IFB estimates the insurance industry’s exposure to fraudulent organised
motor insurance claims per year is £350m, costing honest
customers over £4 million every week. This adds on average
£44 to the annual costs individual policyholders face.
Acting as a single point of contact for law enforcement agencies, the
Bureau enables the insurance industry to make the case for an effective
prosecution response through the justice system. The IFB aligns its
activity with the National Fraud Strategy and the Serious and Organised
Crime Agency (SOCA).
The Bureau currently has 33 insurer members who manage in excess of 95%
of UK personal lines claims, including car insurance.
The Bureau is guided by a Board of Directors drawn from a cross-section
of their membership.
The impact of the IFB since its launch in July 2006 has been huge, with
many hundreds of arrests, and real financial benefits for their
insurance provider members and their customers.
Cash for crash fraud
The IFB has issued advice for consumers about cash for crash scams
which can be accessed here:
http://www.insurancefraudbureau.org/files/misc_pdfs/consumer_advice_-_crash_for_cash_scams.pdf
Reporting insurance fraud
If you suspect car insurance fraud, you should talk to your own insurer
in the first instance.
The IFB 'Cheatline' number is 0800 422 0421
You can also report fraud online (via the IFB website link at the
top).
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