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Fraud Unit Targets 2012 Growth

The counter-fraud services (CFS) division at Keoghs - the leading provider of claims-related legal services to the insurance sector-  is planning a major recruitment drive as it targets a 12 per cent increase in the number of claims it handles this year.

Last year the business recorded a 10 per cent increase in the volume of cases it dealt with compared to 2010.

After recruiting 56 people to its fraud division in 2011 the business - which is the largest counter-fraud legal services provider in the UK with more than 250 employees - is looking to expand the division by another 15 – 20 per cent in 2012.

Over the past 12 months Keoghs' CFS team has saved its clients more than £100m in payouts to fraudulent claimants.

The firm says that organised fraud and individual fraudulent claims continue to rise at an accelerated rate due to the challenging economic climate.

Meanwhile a combination of improved fraud detection techniques in the industry and major new client agreements has further increased Keoghs' CFS workload.

James Heath, Keoghs' director of counter-fraud strategy, said: "The number of fraudulent claims continues to rise across the board be it in motor insurance claims or within previously less-affected sectors such as commercial property.

"Organised fraud rings remain an ever present threat and they are now broadening their recruitment pool with younger people increasingly attracted to the money they offer.

"Set against this backdrop, insurers are having to work harder than ever before to tackle the sheer volume of cases they face and so we're continuing to invest in new talent to help them meet these challenges."

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