Fraud prevention and customer trust are no longer separate issues in insurance—they are now inseparable. As fraud becomes more sophisticated and easier to commit with modern technology, insurers face the challenge of protecting themselves without alienating honest customers. 

Manjit Rana, EVP Insurance at Clearspeed, explains how traditional methods of profiling and evidence-checking often fall short, creating bias and friction that damage the customer relationship. Instead, insurers must adopt new approaches that both deter fraud and build lasting trust, recognizing that exaggerated claims are just as harmful as outright fabrications.

Manjit believes a new way of thinking about the role of insurance is needed. Instead of being viewed merely as a “safety net” that customers reluctantly pay for and rarely use, insurance must become more like a “guardian angel”, adding value in everyday life through proactive support and meaningful engagement. 

Emerging tools, from AI-powered fraud detection to neuroscience-based trust assessments, show promise in making this shift possible. By focusing on building trust while minimizing fraud, insurers can transform not just how claims are handled but also how customers experience protection in a constantly changing world.