Of the 2000 consumers polled, 67% of respondents said economic conditions will make people more likely to be less than truthful on an insurance application. However, 87% said they have never at any point committed insurance fraud by being less than truthful on an insurance claim.
The research showed there is a generational distinction in perceptions of what constitutes fraudulent behaviour with 19% of respondents aged between 25 and 34 years of age claiming it was slightly acceptable to over-estimate the value of goods that have been stolen or increase the cost of repairs, when making an insurance claim compared to only 7% of 55 year-olds.
The consequences of fraudulent behaviour - even just exaggerating a claim slightly - were acknowledged by nearly half of respondents, with 48% believing an insurance company will take legal action if a person is found to have lied on an insurance claim. More than half (54%) believe it will be reported to the police as fraud and 60% said the person would stop receiving insurance cover.
The results of the You Gov survey formed part of Equifax's white paper, entitled ‘What do Consumers Really Think About Fraud?', which included contributions from Mike Levi, professor of criminology at Cardiff University, Stratos Gatzouris, member of Hill Dickinson's counter-fraud group and chairman of the fraud special interest group with the Forum of Insurance Lawyers, and Anne Green, head of fraud management and strategy at Aviva.
John Marsden, identit...