Fighting Insurance Fraud & Organised Crime in South Africa
In South Africa, annual short term insurance claim spend is estimated at R35 billion. If 10% of submitted claims are considered to be fraudulent, this equates to a shocking R3.5 billion lost per annum. Insurance fraud specialists, the South African Police Service (SAPS) and other related agencies agree that a significant percentage of crime, including insurance fraud and insurance related crimes, is highly organised and perpetrated by syndicates.
The Insurance Crime Bureau was formulated to address the rise of organised fraudsters who use insurance as a way of making money, by detecting and preventing such crimes from occurring as well as acting as the mediator for all insurance companies to work together in dealing with the problem.
The Insurance Crime Bureau does this through multiple hands-on operational initiatives:
Cloned vehicles: The Insurance Crime Bureau is the national nodal point for SAPS investigations Cross border training: Provide training to organisations in the Southern African Development Community (SADC) region Training: Provide training to the South African National Defence Force (SANDF) and member companies on vehicle identification Automatic Number Plate Recognition (ANPR): The Insurance Crime Bureau is the nodal point to receive information on this SAIA initiative
B-BBEE Rating The Insurance Crime Bureau is proud to be independently verified a Broad-Based Black Economic Empowerment Contributor. Please see the below certificate for the latest verification level.