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BIBA demonstrates ongoing commitment to work with the IFB to fight insurance fraud

20 January 2015

The British Insurance Brokers' Association (BIBA) has unveiled its 2015 Manifesto which details its ongoing commitment to work with the Insurance Fraud Bureau (IFB) to help reduce the cost of insurance fraud.

The 2015 manifesto document entitled Insuring Britain’s futureincludes 20 ‘Calls to action’ to Government and 11 ‘Commitments’ on the issues that are impacting general insurance brokers and their customers.

The manifesto’s 10th commitment outlines BIBA’s intention to work closely with the insurance fraud taskforce and to work with the IFB and its new broker membership model to tackle and reduce the problem of general insurance fraud.

The IFB’s two-tier broker membership model, launched in October 2014, is designed to open intelligence sharing to a wider broker audience and further strengthen the industry’s collective fight against organised fraud. It is intended to suit large and small brokers and to help more brokers manage risk appropriately through the provision of tailored access to IFB intelligence.

Ben Fletcher, Director of the IFB, said: “The IFB is committed to supporting the counter-fraud capabilities of brokers. The most powerful weapon in the fight against insurance fraud is sharing information, and collaborating with BIBA brokers is essential.

“With the recent rise of organised application fraud, implementing a new fraud-detection model to reach a wider broker audience is a logical extension of the IFB’s service. The requirement to improve counter-fraud capabilities at point of quote has never been greater and information captured by brokers will help the industry shine a brighter light on application fraud and misrepresentation.”

You can read BIBA’s 2015 manifesto, Insuring Britain’s future, at https://view.publitas.com/biba/biba-manifesto-2015/page/1

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