AA Insurance Services Ltd has become the latest organisation to sign-up as a member of the Insurance Fraud Bureau (IFB, http://www.insurancefraudbureau.org), joining the industry’s collective fight against organised fraud.
In its capacity as an insurance broker, the AA will provide a new source of data for the IFB to interrogate and identify organised fraud.
Phil Bird, Director of the IFB, said: “The IFB’s strength is built on the power of the collective. With access to more cross-industry data, we can identify and stamp down on those criminal gangs targeting our industry. As first point of contact with consumers, brokers have a vital role to play in counter-fraud. As such, working alongside brokers across the country is a strategic priority for the IFB and we welcome the AA as our latest partner in the fight against organised insurance fraud.”
The IFB was formed in 2006 to head a collective insurers’ fight against organised insurance fraud. Since, the IFB has overseen 711 arrests and 162 convictions resulting in a combined 167 years in prison for organised fraudsters.
With a focus on the ‘crash for cash’ phenomenon, the IFB is managing 36 live police operations valued in excess of £60m in potential savings to the industry. The IFB’s projected growth could see that portfolio increase to £160m by 2014.
Simon Douglas, Director of Insurance at the AA, said: “The AA has long been a staunch campaigner for those committing insurance fraud to be brought to book. Honest motorists are paying for their criminal activities and it’s imperative we work together across the industry to identify these fraudsters. The AA is pleased to be a partner with the IFB and add our weight to the fight.”
