At LV= we’re passionate about combating insurance fraud, so we caught up with the Claims Crime Prevention Team to see what they’ve been getting up to.
How are LV= tackling the huge issue of claims fraud?
We have invested heavily in bespoke fraud detection systems and in developing the technical capabilities of our front line fraud handlers. We have dedicated Claims Crime Prevention Team across four sites in Bournemouth, Ipswich, Leeds and Croydon.
What we do
We investigate all types of suspected fraudulent claims including linked and organised fraud, Motor, Fire & Theft, Property and Commercial. The fraud profiles we investigate can range from ‘bogus’ passengers, induced accident, slip and trip claims to large commercial arson.
Working together to prevent fraud
By helping us to prevent potential fraudulent claims, together we are protecting our genuine customers and helping to keep the cost of premiums down. If you suspect a claim is fraudulent you should report any suspicion to us. We also work with external fraud agencies such as IFED, IFIG and the police.
Our teams can be contacted via the following email addresses:
ABC – Ipswich.CVU@lv.com
Commercial Motor – ClaimsValidationCommercialClaims@lv.com
Highway Personal Lines – Leeds.CVU@lv.com
Fire & Theft – IpswichF&TCCPT@lv.com
Property – email@example.com
Highlights of 2014
- Detection Rate 75%
- 24 hour turnaround on all new referrals
- Linked & organised claims increase to 52 live operations
- On track to prevent over £40 million of fraud in 2014
- Development of fraud indicators
- Customer and claimant fraud profiling
- Data sharing and improved intelligence tools
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