Protector Insurance joins forces with the Insurance Fraud Bureau
The Insurance Fraud Bureau (IFB) is pleased to announce that Protector Insurance, the UK branch of Protector Forsikring ASA - the fast-growing Scandinavian insurer - has joined its membership in a move that will support the industry’s collective fight against organised insurance fraud.
Protector Forsikring ASA which is listed on the Oslo Stock Exchange, underwrites Commercial Risks in Scandinavia and the UK and works exclusively with Insurance Brokers. By having access to the IFB’s unrivalled counter-fraud solutions, trend analysis and insight, Protector Insurance will be enhancing the industry’s efforts against organised insurance scams.
Ben Fletcher, Director of the IFB, said:
“Insurance scams have a significant impact on insurers and they span across a range of product areas, from fleet to property. As the nature of fraud continues to evolve and fresh challenges arise from the disruption of Covid-19, it’s never more important for insurers to collaborate in the fight against fraud.
“I’m pleased to welcome Protector Insurance to the IFB so that we can share best practice and key intelligence, which will add another bolt to the industry’s defences against fraud.”
David, Ruddock, Claims Manager UK at Protector Insurance, said:
“Attaining membership of the IFB reiterates our commitment to tackling insurance fraud. This step further complements our existing robust and collaborative approach in conjunction with other IFB partners, and will benefit our policyholders through increased identification rates.”
Protector Insurance now joins over 80% of the UK insurance market in partnering with the IFB.
Currently one insurance scam takes place each minute in the UK, bringing significant costs to insurers and their customers. As insurance scams become increasingly complex, the IFB is urging for the industry’s collaboration to fend off threats.
The IFB is a not-for-profit organisation that was originally set up in 2006 to investigate organised motor insurance fraud, and has seen its investigations expand over time to cover all product lines.
Insurance providers interested in partnering with the IFB to enhance efforts to fight fraud can find out more on the IFB website.
