Presentation is loading. Please wait.

Presentation is loading. Please wait.

May 2008 Counter Fraud Measures in a Flood? A presentation by CILA Fraud SIG CILA Conference 23 rd September Speakers: Christian Aplin – CILA AFG Chris.

Similar presentations


Presentation on theme: "May 2008 Counter Fraud Measures in a Flood? A presentation by CILA Fraud SIG CILA Conference 23 rd September Speakers: Christian Aplin – CILA AFG Chris."— Presentation transcript:

1 May 2008 Counter Fraud Measures in a Flood? A presentation by CILA Fraud SIG CILA Conference 23 rd September Speakers: Christian Aplin – CILA AFG Chris Chambers - Ordinance Survey

2 May 2008 2 Getting the balance right Vast majority of claims will be genuine Distressing time for the insuring public Providing practical assistance Our obligations to Treat Customers Fairly Implementing major event plans Identifying those who take advantage

3 May 2008 3 Who can commit fraud in a flood? Policyholders Contractors Suppliers Staff

4 May 2008 4 How and when can fraud manifest itself in a flood event? Underwriting stage Claims Stage Throughout the lifecycle of a flood claim

5 May 2008 5 Fraud in a flood – Underwriting stage? Examples (not exhaustive) Lives on a known flood plain Within 500M of a watercourse Policy Inception after flood waters entered

6 May 2008 6 Fraud in a flood – Case example 1

7 May 2008 7 Fraud in a flood – Claims stage? Examples (not exhaustive) Exaggeration – scope/price of repairs Exaggeration – extent of affected items Staged – Hosepipe water vs flood water Misrepresentation – False documents

8 May 2008 8 Fraud in a flood – Case example 2

9 May 2008 9 Fraud in a flood – Traditional Tactics? Adjuster visits Indicator documents Use of broader supply chain Strengths & weaknesses of this approach

10 May 2008 10 Fraud in a flood – Alternative/ Emerging Tactics? Rules based detection systems Data Mining/Data Matching Mapping technology Internet Strengths & weaknesses of this approach

11 May 2008 11 Fraud in the floods – Example of the alternative tactics? 20 Minute presentation from Chris Chambers of OS? What OS mapping technology involves How mapping technology can help detect fraud How mapping can be used to detect fraud in a future flood event

12 May 2008 12 Counter Fraud Measures in a flood? Summary Vast majority of claims genuine Challenges of good service vs Major event vs temptation Understand the risks and respond appropriately Risk applies differing classes of business Ideally apply a combination of tools

13 May 2008 13 Counter Fraud Measures in a flood? One of our members reports on the portfolio of flood claims they received: 1% of claims investigated as fraud suspected 60%+ claims result in no payment Savings in excess £1M


Download ppt "May 2008 Counter Fraud Measures in a Flood? A presentation by CILA Fraud SIG CILA Conference 23 rd September Speakers: Christian Aplin – CILA AFG Chris."

Similar presentations


Ads by Google