The Insurance Guarantee Fund has launched a new insurance database. Six companies: Compensa, Ergo Hestia, Generali, InterRisk and Warta are taking part in the testing phase. The goal of the project is to increase the detection of fraud in the insurance segment.
“The aim of the database is to increase the fraud detection rate in insurance branch and in the life insurance sector as well as in the P&C sector”, explains Małgorzata Ślepowrońska, a board member of the Insurance Guarantee Fund (UFG). “We hope that the majority of insurance companies will decide to join and use our database. It is in their interests to identify dishonest occurrences”, she adds.
The pilot project lasts until September 2018. Insurers participating in this project represent 70% of the motor insurance market. Their main task is the input of data into the database. Based on those records the Fund will make cross-sectional analysis, useful and accessible for all project partners. The database will allow the identification of multiple claims for the same event, which are simultaneously reported as fraud for several insurers at the same time.
According to a Polish Insurance Association report, in 2016 there were 9,515 cases of frauds in the P&C insurance sector. Their value was PLN 211,9 mln.
