Sedgwick Says They Saved Clients £37m In 2024

The latest from Sedgwick, who are always on the ball when it comes to potentially fraudulent claims; 

Sedgwick, a leading global provider of claims management, loss adjusting and technology-enabled business solutions, has reported that initiatives linked to the company’s claims fraud strategy resulted in a significant saving of £37m in 2024.

“Protecting our clients and their honest customers from the cost of insurance fraud is a non-negotiable element of handling claims,” said Ian Carman, Director, Head of Forensic & Investigation Services for Sedgwick in the UK. “We place emphasis and focus on understanding the ever-evolving insurance fraud landscape and, in particular, the threats posed by fraudsters using technology to facilitate their economically damaging activity.”

Carman added: “I’m incredibly pleased that our unrelenting effort to identify and challenge dishonest claims has once again resulted in significant savings for our insurer clients in the UK. We continue to achieve these exceptional results by blending industry collaboration with highly skilled and ever-alert colleagues, supplemented by an ecosystem of sophisticated counter-fraud technologies.”

Sedgwick reported a rise in fraudulent activity involving increasingly intricate methods, including cross-border false claims supported by realistic-looking forged documents. These included fabricated bank statements, flight boarding passes, credible-looking holograms and foil strips – and even death certificates. The rise in availability of generative AI tools has made it easier for would-be fraudsters to produce convincing fake documentation, Sedgwick warned, highlighting the evolving nature of insurance fraud risk across all product lines and geographies.

Sedgwick also noted an increase in demand from multinational corporations, MGAs and captives looking to strengthen their fraud detection capabilities.

“Insurance fraud is a daily crime with serious financial impact,” said Steve Crystal, Head of Fraud and Investigation Services, International. “This isn’t a victimless issue – as well as genuine customers, it strikes at the heart of global markets. Today, no one country dominates counter-fraud demand. We’re seeing appetite from all corners of the world, which is why our focus is on delivering ethical, proportionate investigations everywhere to help clients manage evolving risk, and to protect their customers from increased premiums attributable to fraud loss.”