Saga Insurance, the insurer of the over 50’s, has joined the insurance industry’s collective fight against fraud becoming a member of the Insurance Fraud Bureau (IFB). The IFB’s membership now accounts for 96% of the UK’s personal lines insurers.
Fraud has hit record levels according to the ABI and is costing the insurance industry £1.6bn a year, adding approximately £40 to every premium paid by policy holders.
Nikki Grieve-Top, Head of Fraud, Saga Insurance comments: “We are looking forward to working collaboratively with the industry in the fight against fraud and benefiting from the power of the collective approach. The current climate has exacerbated the number of fraudsters targeting the insurance industry and we are committed to protecting our honest policy holders.”
John Beadle, Chairman of the IFB comments: “We are delighted to welcome Saga to the Bureau membership and look forward to harnessing the additional data that will become available to the benefit of all members as we continue to spearhead the industry’s fight against organised fraud.”