Insurance broker BGL Group has become a member of the Insurance Fraud Bureau (IFB).
BGL Group joins existing broker members AA, Swinton, Carole Nash, Premium Choice and Carrot Insurance.
The IFB launched its brokerage membership model in 2014 to facilitate intelligence sharing with a view to enabling brokers to manage risk and identify fraud as early as possible during the quote process.
Welcoming BGL Group on board, Ben Fletcher, director of the bureau, commented: “Since 2015, the number of new IFB investigations into application fraud has increased by 67%, meaning data sharing within the industry is absolutely essential in order to tackle fraud.”
“With this in mind, BGL Group’s membership is extremely positive news for the IFB and the wider insurance community. Their membership to IFB will significantly enhance the volume of intelligence relating to application fraud that is available to all members.”
Founded in 1992, BGL Group specialises in both price comparison and insurance distribution and outsourcing.
Julia Walker-Smith, associate director of fraud at BGL Group, commented: “With almost nine million customers across the business, we take our responsibility to detect and prevent fraudulent activity very seriously.”
“Sharing intelligence with others in our industry is one of the most important and practical steps we can take towards this goal, and we look forward to working with the IFB in the months and years to come.”