Allianz research reveals majority of motor fleet managers believe they have been the victim of fraud

Posted: 20 July 2020


Fraud is a major issue for the motor industry, with figures from the Association of British Insurers finding that 55,000 fraudulent claims were detected in 2018, worth £629 million. The severity of the issue is clearly recognised by many organisations, as the independent survey of 100 motor fleet managers also found that almost two thirds (59%) of respondents have taken measures to prevent fraud. 

Tony Newman, Head of Motor Claims, Allianz Insurance commented: “With so many businesses affected by motor insurance fraud, it’s not surprising that 59% of fleet managers say they’ve taken preventative measures. However, this still leaves a worrying proportion at a heightened risk of fraud. All drivers need to be aware of the types of fraud that might affect them.”

The research also revealed that 74% of motor fleet managers expected at least one vehicle in their fleet to have an accident within the next month, with 62% agreeing that the support of a broker is invaluable when making an insurance claim.

Of the fleet managers surveyed, 94% had made insurance claims on behalf of their drivers. Although the recommended claims notification time is 24 hours after an accident, this is not always possible. The top reasons cited by motor fleet managers for delayed claims notification were:

  • Drivers didn’t tell fleet managers about the accident (41%)
  • No online facility to make a claim (28%)
  • Didn’t have time (20%)
Tony Newman

Tony Newman added: “Educating drivers about what to do in the event of an accident and ensuring they have all the necessary tools to collect the necessary information will help with claims. Quicker notification of claims could ultimately bring down the overall total as delays in notifying sometimes result in an increased cost.

 “We want to protect our fleet managers and their drivers during the general claims process but also by making life as hard and difficult for the fraudsters as possible. Staying vigilant, understanding the risks and engaging with your broker and insurer as early as possible will all help.”  

This online survey of 100 UK Fleet Managers was commissioned by Allianz and conducted in 2019 by market research company OnePoll, in accordance with the Market Research Society code of conduct

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

About Allianz Holdings plc

Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain.

About Allianz

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 150,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below. 

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

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Amy Yorston
PR Consultant
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