Britain has become the whiplash capital of the world. Between 2006 and 2012 claims for personal injury caused by road traffic accidents increased by 60% whilst over the same period, the number of reported road traffic accidents fell by 20%. ‘Crash for Cash’ insurance fraud is having a negative impact on all of our insurance policies and you can learn more by watching the Insurance Fraud Bureau’s Video:
SatSafe’s taxi and private hire ‘black box’ system is backed up by sophisticated crash detection and recording technology. It provides extremely detailed accounts of incidents and therefore, helps to establish whether a claim corresponds to the scale of the impact in question.
In addition to a forward-facing camera, SatSafe incorporates a tri-axis accelerometer which monitors for any impact greater than 1.3g. In the event of an accident it triggers the sensor and immediately alerts the allocated contact by text message and/or email. With seven data points per second, the device records the exact location, heading, speed and g-forces in all three axes, thus enabling to later reconstruct the accident in a video for example (real-life example here).
If a driver suffers a collision with a road user intent on committing insurance fraud by deliberately staging an accident, SatSafe’s security and tracking solution provides all the necessary evidence to Immediately combat the claim. Andy Kirk, director at Quartix, states: “Telematics systems such as ours offer a way to get to the facts extremely efficiently and reliably.” Quartix.co.uk
To learn more about ‘Crash for Cash’, please visit the Insurance Fraud Bureau website.
SatSafe – total protection from Insurance Fraud.
Our on-board dash cameras are an excellent way to combat Crash for Cash insurance scams. They are normally fitted to the vehicle’s windscreen, behind the rear view mirror ensuring that they do not obscure any of the visible road ahead.
The cameras record in full 1080P HD on loop meaning that every 5-15 minutes (depending on your settings), the camera over writes the previous footage.
The footage is time and date stamped which is vital in the event that the footage has to be submitted as evidence in a Court of Law.
The Innovation Group are also doing some great work in the field of Fraud Detection: In a recent analysis of 900 suspect claims between August and November 2010, staff trained in investigative psychology confirmed 51% of the home claims and 47% of the motor claims as potential deception and resulted in no payout by the insurance company.
After training in investigative psychology techniques to analyse claims as they are handled, some staff had a detection rate which was 94% accurate.
Incredible results, in fact, 50% of the motor and household claims investigated by Innovation’s fraud team are not paid out on. One client – a niche motor insurer – is getting a 4,000% return on their investment with the group – for every £1 they spend with Innovation they’re saving £40. Or, to put it another (equally impressive) way, for every 25 claims handled by Innovation Group, the insurer saves £140,000.
Innovation Group uses a three-step claims handling process which involves initial screening, desktop investigation and follow-up. James Harding explains: ‘Stage one is a light touch, general information gathering, the claimant doesn’t know they are being interviewed as a fraud suspect. It’s a reliable process that quickly distinguishes between genuine claims and those worthy of further investigation. After the necessary cross-checks have been investigated, the second stage is a screening of the claimant. It’s now that the awkward questions are asked. More of a strategic investigation than an interrogation, but it’s sufficiently probing to discourage a number of fraudsters from pursuing their claim. Next, the fraud team gathers witness statements and a detailed chronology of events requesting that the claimant address any concerns or discrepancies that are present.
There are 60 Fraud Rules in use, such as measuring the speed of impact against claims of injury sustained in the impact for inconsistencies. Our analysts have access to a web portal which confirms high risk claims cases, as James explains: ‘Clients receive details of matched claims every day, claims that could potentially require further investigation. If agreed, the claims go through the desktop investigation process and continue through the usual claims cycle. This has been through a test environment and already one client has gone live with further insurer and fleet clients ready to sign up.’ Learn more here: http://www.innovation-group.com/uk/local-news?newsid=751
If a vehicle is SatSafe – there is no need for any investigation as we provide indisputable evidence… Worth thinking about!