Attempted fraud in the insurance industry fell by 16% between April and June 2012, according to new figures released by Experian.
Out of every 10,000 applications for insurance products, 10 were found to be fraudulent, compared with 12 out of 10,000 over the same period of 2011.
The figures also revealed that 86% of insurance fraud attempted in the second quarter of 2012 was committed by first party fraudsters.
Experian's latest fraud index also showed a 3% drop year-on-year across all financial services products, with automotive finance and insurance providers seeing the biggest declines.
However the mortgage industry suffered a 23% jump in attempted fraud rates in Q2 2012, and savings accounts saw a 109% increase in attempted fraud.
Attempted current account fraud grew by 2% in that period and remains the most targeted financial product, with 43 in every 10,000 applications found to be fraudulent.
Nick Mothershaw, director of identity and fraud services at Experian UK and Ireland, said: "Robust fraud prevention relies on thorough and efficient validation of customers' identities and the information presented on the application form.
"It is vital that finance providers share comprehensive and timely information about finance applications and known frauds to help combat this common threat to the industry."
