Insurance professional seconded to IFED
An insurance industry professional has been seconded to the City of London Police where he will draw on his expertise to assist the Insurance Fraud Enforcement Department (IFED) in its fight against fraud.
Matt Crabtree from insurer LV= will strengthen ties between IFED and industry. He will also enhance the unit’s annual assessment of threats to industry and detectives’ criminal and asset recovery investigations.
Matt has 18 years’ experience in the industry, working with LV= for five years, mainly focused on counter fraud and financial recovery.
In his substantive role with LV=, as technical controller of the Claims Crime Prevention Team, Matt investigates suspected serious frauds against the insurer and oversees colleagues doing the same.
Matt said, ‘I am looking forward to using my experience to help the Insurance Fraud Enforcement Department develop an even greater understanding of the current and future threats facing industry and its customers.
‘I will also be working directly with the unit’s detectives, helping them gather the evidence they need to bring insurance fraudsters to justice.’
Insurers detect fraud valued at over £1bn a year and honest customers end up paying for fraud that goes undetected in terms of higher premiums.
IFED is the only industry-funded police unit dedicated to tackling insurance fraud across England and Wales. It has operational independence and is a key component of the City of London Police in its role as the National Policing Lead for Fraud.
City of London Police Detective Chief Superintendent Dave Clark, head of the Economic Crime Directorate which houses the Insurance Fraud Enforcement Department, said, ‘This secondment provides further evidence of how the City of London Police is working in close collaboration with the insurance industry to protect it, the wider economy and the public from insurance fraud.
‘Having Matt join the Insurance Fraud Enforcement Department will enhance the knowledge base and expertise within the unit, helping the senior management team map out their future priorities and assisting detectives on a day-to-day basis with their investigations.
‘This can only be good news for the industry and consumers, and bad news for anyone who believes insurance fraud is a crime without consequences.’
Clare Lunn, head of claims crime prevention at LV=, said, ‘We take fraud very seriously at LV= and we are delighted to share our in-house talent with the team at IFED. By sharing industry knowledge in this way we can ensure that both the police and the industry are best placed to tackle the ongoing issue of fraud prevention.’
Matt has been seconded to IFED for six months from May 2015. He was appointed following a competitive selection process held after the unit circulated the opportunity to industry via the Association of British Insurers and Lloyd’s of London in November 2014. His secondment is wholly funded by LV=. IFED Management Board will receive regular updates on the secondment.