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Jun 2017 Axa Belgium has estimated the average cost of insurance fraud at 250 million EUR (263 million USD). This practice is behind the increase by 60 to 125 EUR (63 to 1312 USD) of the annual premium disbursed by each household.
Out of the 450 000 files processed in 2016, 1 600 have turned out to be fraudulent, that is, a percentage of 3.5%. More than a third of the fraudulent claims affected motor insurance. The other categories such as fire and third party liability also stand among the covers most affected by this scourge.
In 2016, the counter measures deployed against insurance fraud enabled the Belgian subsidiary of Axa group to save 28 million EUR (29.5 million USD).
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