During an economic downturn people are more likely to commit insurance fraud than they are in normal times. That was the opinion of more than three quarters (76%) of consumers in a survey released by Accenture, a global management company. Only 66% had this opinion when asked in 2003. Why?
According to the individuals surveyed, insurance fraud occurs because of peoples’ need for money (cited by 60 percent of respondents), or because they believe they are paying too much for insurance (42 percent). One-third of respondents said that those committing fraud do so in order to make up for the deductible they would have to pay. And, more than half (55 percent) of U.S. consumers say poor service from an insurance company is more likely to cause an individual to commit fraud against that company.
More than half (56 percent) of respondents say that they would likely report someone who has committed insurance fraud, while one respondent in five is uncertain about their position on this issue.
READ MORE in the news release and link the complete survey