ICA amplifies fight against insurance scams with new function
In 2023, it saw AU$560m cases of opportunistic insurance fraud.
The Insurance Council of Australia (ICA) has appointed Andrew Gill as the chief executive officer of its new counter-fraud and scams function.
Gill brings extensive experience in investigating insurance fraud, having spent 24 years as a detective in the New South Wales Police fraud and cybercrime squad and most recently serving as a Forensic Director at McGrathNicol.
In 2023, ICA members identified AU$560m in opportunistic insurance fraud for motor and property, with undetected fraud estimated to cost the industry around AU$400m annually.
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These undetected cases increase insurance premiums and cause significant harm to customers and the economy.
The new counter fraud and scams function will enhance industry-wide capabilities to detect organised fraud networks and identify emerging fraud trends or scams.
It will collaborate with ICA members to gather intelligence on organised fraud, improve insurers' detection and prevention abilities, and work with governments and agencies to combat fraud and scams.