One in six insurance claimers admits to overstating losses.
Accenture surveyed nearly 8,000 insurance policyholders in 14 countries as part of the Accenture Claims Customer Survey. One part of our survey focused on fraud, and in particular, whether a respondent had inflated a claim to obtain a better settlement.
Some of the results:
- Globally, 15 percent of auto insurance customers and 21 percent of home insurance customers admitted to overstating a claim.
- Inflated claims were least prevalent in Denmark (3 percent and 5 percent for auto and home claims, respectively). The figures for Finland and Sweden were similarly honest (or coy), with admitted fraud rates below 10 percent.
- Inflated claims were most prevalent in Brazil, where 33 percent of auto customers and 44 percent of home customers admitted to inflating claims.
The top two reasons cited for inflating claims were that premiums were too high, and that customer service was poor.
There are many insights to be learned from the study, and I encourage you to dig deeper with our interactive visualization tool, or to register to download the report.