The phenomenon of fraud-prone claims has always affected our country, and insurance companies only check a fraction of them. If all suspicious claims reported by policyholders were investigated, the savings for the entire system would reach 2.4 billion euros. This is the estimate made by Konsumer in a recent survey
The Weight of Fraud on Auto Insurance.
In its latest mapping, Ania quantifies as being at risk of fraud 23.9 per cent of total claims reported in auto insurance in 2021 (these are currently the most up-to-date figures). Fraud risk, the document states, is defined as “the risk of economic damage resulting from conduct that often takes the form of even simple deception carried out against the insurance company, both during the contractual process and in the claims handling phase.” While the incidence of claims that were subsequently the subject of a specific investigation stands at 7.8 per cent. Conversely, in southern Italy, reported claims found to be suspicious reached 40 per cent.
The phenomenon of insurance fraud is then closely related, at the territorial level, to that of the circulation of uninsured vehicles. Starting with data provided by the DMV and its own data, Ania estimates that in 2021 about 2.4 million vehicles, or 5.2 per cent of the total number of vehicles on the road, did not have insurance coverage. This percentage was as high as 8.4 per cent in the South.
Telematics as a tool to fight fraud
Today, technology is a valuable ally that makes it possible to defend against fraud that can involve both the simulation of a claim and an inflated claim for damages. We are talking specifically about the Black Box, which is increasingly common on cars today and appreciated by consumers. Viasat, which has been in the insurance market for years with telematic devices useful not only to prevent and combat theft but also to provide useful ‘information’ to the Companies for the proper management of claims, knows this well. In this way, it reconciles the benefits of increased protection and safety for cars and people with an opportunity to save on rates.
