Insurers need to monitor fraud
The number of motor theft claims is rising and insurers should carefully monitor the spike for signs of fraud, according to a claims management expert.
Mark Rix, GM Operations at Claims Services Australia, told insuranceNEWS.com.au there has been an increase in claims of about 5% in the past four months.
He says while historical data shows spikes in theft in some quarters, the trend will need to be carefully monitored over the next year to see if claims continue to rise.
“Given the difficult economic times, insurers need to be monitoring theft and the potential issue of fraud very closely,” Mr Rix said.
“From our perspective, we’re increasing our technical area and resourcing in preparation that there could be a spike. It’s something that we will certainly be monitoring.”
Mark Rix, GM Operations at Claims Services Australia, told insuranceNEWS.com.au there has been an increase in claims of about 5% in the past four months.
He says while historical data shows spikes in theft in some quarters, the trend will need to be carefully monitored over the next year to see if claims continue to rise.
“Given the difficult economic times, insurers need to be monitoring theft and the potential issue of fraud very closely,” Mr Rix said.
“From our perspective, we’re increasing our technical area and resourcing in preparation that there could be a spike. It’s something that we will certainly be monitoring.”