A woman, 22, and a man, 64 - both claims management company employees - were arrested in Westbourne, Dorset.
They are accused of conspiracy to commit bribery and money laundering.
A 24-year-old man, a former employee of the insurance company LV, was arrested in the Poole area on suspicion of fraud by abuse of position.
They have all since been bailed.
The arrests follow a City of London Police investigation launched after the insurance company contacted the force.
The company claimed data it had held was unlawfully passed to a claims management company one of its employees.
The allegations relate to details of 50 third party road traffic collision victims believed to have been were passed on between January and December 2014 for payments of about £17,000.
Police said victims reported being contacted by a person they believed worked for LV and their claims for personal injuries, vehicle repairs and courtesy cars were dealt with by a claims management company.
The claimants said they had received pay-outs from the claims management company, rather than the insurance company.
Police said the Insurance Fraud Enforcement Department found the pay-outs were up to 40% lower than the amount LV had paid out for each claim.
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