Insurers will be able to dip into the IFR to weed out insurance cheats who currently add an estimated £50 to every policy.

The IFR is the latest in a series of fraud busting initiatives. The Police Insurance Fraud Enforcement Department has led to a number of arrests since it kicked off in January.

Managing director at Detica Imam Hope said the register was a “serious blow to insurance cheats”.

“The IFR is laying the groundwork to deliver a serious blow to insurance cheats. It is vital to collect information about known fraudsters so that this can be combined with existing counter fraud data analysis to further protect honest customers from being penalised.

“The IFR is a beacon to the global insurance industry with other countries taking an active interest in this initiative. Detica NetReveal’s partnership with both the Insurance Fraud Bureau and the Association of British Insurers underlines the importance of the innovative approaches we are providing in the fight against fraud,” he said.

Head of fraud at AXA Richard Davies, who is leading the project, said “The signing of the contracts is an important step as we move towards delivery of the Insurance Fraud Register during the Summer.

“Over the coming months, we will step up our engagement with insurers to ensure they are ready to participate. We will also be talking with consumer organisations so that they fully understand what the Register will mean for consumers.

“While insurers remain committed to paying genuine claims as quickly as possible, committing insurance fraud will have long and serious consequences.”  

A number of insurers will now work with the Insurance Fraud Bureau on systems testing to ensure delivery of the Register during the third quarter, likely to be July.

For more information or you would like a free impartial review of your insurance arrangements, please contact Richard Gibson on 0116 272 0770 or richard.gibson@abourne.com

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