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Colombia-2021- According to Fasecolda, the insurers’ union, the cost of fraud only against the Mandatory Traffic Accident Insurance (Soat) is estimated at more than 100,000 million pesos. In this scenario, of the more than 7 million vehicles that evade the Soat, 77% are motorcycles and, in this way, they are the vehicles with the highest non-compliance and fraudulent claims.
During 2019, before the pandemic, it was estimated that 7 out of 10 claims received by auto insurance companies in Colombia had some indication of fraud, a situation that places the country in one of the first places in Latin America, according to Fasecolda , the difference occurs because in many claims, despite the indications, the firms prefer to pay for the low amounts, since an eventual investigation would be more expensive.
At this point, it should be clarified that an insurance fraud involves any action that has the purpose of illegitimately obtaining a benefit, mainly impacting the direct cost of the premiums. Insurance fraud cases can involve policyholders, third parties, workshops, doctors, lawyers, agents and anyone who is part of the circuit of production, intervention or communication of a claim.
To avoid insurance fraud, in addition to the good faith of all parties and fair treatment between policyholders and insurers, as users it is important to have relevant and quality information so that your protection is complete and 100% secure. In this sense, the digital broker 123Seguro reported a series of recommendations to take into account:
Tips to avoid insurance fraud
Although fraud is a crime that must carry a penalty, it is important to apply some simple prevention measures such as the following:
- Do not sign blank documentation of any kind, but especially that related to claims or claims.
- Make payments only through official and authorized channels, both from companies and producers.
Regarding the effects of a loss, they should not be exaggerated or altered under any circumstances. - Nor should the private data of the policy or the coverage be provided to third parties that are not involved in the contracted product or the company that provides the insurance.
- Review in detail the scope of the coverage contracted to avoid surprises in future episodes.
- Immediately carry out the transfer of the sold or purchased car, as well as the sale report of the unit that has been transferred.
It should be remembered that fraud can be carried out by both a false insurer and a false insured.
Today, insurance policies are managed from a mobile phone and this also helps to prevent fraud and scams, since the insured has all the information: from the coverage limits, the digital channels to make payments and communications and direct contact with the advisers responsible for the service.
