Clearspeed’s Manjit Rana highlights growing threat of ghost broking during Fraud Awareness Week

With Fraud Awareness Week now underway (16–22 November), Manjit Rana, EVP of Insurance at Clearspeed, is drawing attention to the growing threat of ghost broking and the lessons it holds for the wider insurance industry.

Recent figures from the Insurance Fraud Bureau (IFB) show that cases linked to ghost broking scams have risen by more than 50% in the past two years, highlighting the scale of the issue. Fraudsters are increasingly using digital platforms and taking advantage of financial pressures to deceive vulnerable consumers, particularly young drivers and gig economy workers, into purchasing invalid motor insurance policies.

“Fraud trends often mirror shifts in society and technology,” said Manjit. “The combination of economic strain and easy access to sophisticated digital tools has given rise to a new wave of opportunistic and organised fraud. Scammers can now create convincing fake websites in minutes, targeting consumers who are simply looking for a good deal.”

Ghost brokers often advertise cheap insurance on social media, using stolen branding or fake documentation. Many victims only realise they have been scammed when they attempt to make a claim or are asked to provide proof of cover.

“The cost-of-living crisis has created conditions where people are more likely to take risks to save money,” Manjit added. “This highlights how modern fraud preys on trust and vulnerability. These issues cannot be solved by technology alone, but through education, awareness and empathy.”

Manjit emphasised the need for the industry to focus not only on identifying fraudsters but also on protecting genuine consumers. “Fraud prevention is not just about catching bad actors. It is about understanding behaviour, supporting those at risk and ensuring people have confidence that they are properly covered. As fraud evolves, our response must evolve too, combining innovation with a more human approach to trust.”