Trains, planes and fraudulent claims

Trains, planes and fraudulent claims

Dec 29, 2017

Shock findings in a new YouGov survey commissioned by Aquarium Software show that while 91 percent of Brits claim never to have told a fib during a travel insurance claim, seven percent couldn’t recall and two percent prefer not to say. When asked about colleagues, friends and family fibbing on a travel insurance claim, three percent said yes they had, two percent preferred not to say and a perhaps revealing 43 percent couldn’t recall!

Aquarium’s latest research serves as a timely reminder to consumers that fraud is not a victimless crime, and costs the UK travel industry £3.6 million a day; the rest of us get hit with a hike in premiums as a consequence. Yet the latest travel insurance technology is set to change that, delivering powerful anti-fraud tools for insurers and as detection rates increase, the lower premiums that follow will be welcomed.

“The full research makes fascinating reading, particularly when six percent of 18-24 year olds prefer not to say (three times the national average), and 15 percent of the same age group couldn’t recall (more than double the national average),” said Aquarium Director, Mark Colonnese. “Taken at face value, the implication is that the young may have a more cynical view of fraud; of course it could be argued they are simply more honest about their misdeeds. Either way, the generation gap is clearly evident when it comes to travel insurance fraud,” added Mark.

“Older age groups may be much more circumspect when it comes to admitting misdemeanours, and human nature makes it difficult to get 100% reliable stats on fraud; however what we can say is that next generation apps are going to be grounding fraudsters faster, no matter how old they are, so people should think carefully before adding an extra camera on to a travel insurance claim, for example, or claiming for piece of tech they never owned in the first place. The technology net is tightening on the travel insurance criminals, and that will be good news for us all in the long-run,” concluded Colonnese.