Insurers detected £1.1bn worth of fraudulent claims last year, up 4% on 2022, according to the latest cross-industry figures.
The Association of British Insurers added its members identified 84,400 fraudulent claims in 2023, 11,800 more than the previous year (a rise of 14%), and the average value was £13,000 (2022: £15,000).
For the first time, the ABI’s figures also included details on the type of fraud scammers attempted to commit.
With a rise in detected fraudulent insurance applications and claims, it’s never been more important to raise awareness about the impacts of insurance fraud.
Exaggerated loss, the
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