Insurance fraud remains a significant challenge for the industry, with schemes ranging from opportunistic claims to organised criminal activities. Common types include Claims Farming, Ghost Broking, and Policy Fronting, each with distinct tactics to exploit insurers. Emerging technologies, such as Generative AI, have also introduced new risks by enabling the creation of forged evidence. Other forms, like Pet Insurance Fraud and Crash for Cash schemes, demonstrate the diverse ways fraud can manifest. By identifying these threats, insurers can better implement prevention strategies to safeguard against losses.
