Things people don’t realise count as insurance fraud.
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GUEST – Ernest North, co-founder at digital insurance platform, Naked
Insurance fraud. The words probably make you think about criminal syndicates staging vehicle crashes or people faking their deaths to get multimillion rand pay-outs. While these incidents dominate newspaper headlines, they form only a portion of the estimated R6 billion to R8 billion that the South African insurance industry loses to fraud each year.
A lot of fraud, if not most, takes the form of smaller claims from people who don’t think of themselves as criminals. It could be someone you know, like a friend who adds a Kindle they never owned to their claim after their home is robbed. “Many fraudulent insurance claims are made by people who think they’re telling a little lie to a big corporation,” says Ernest North, co-founder at digital insurance platform, Naked
Insurance fraud. The words probably make you think about criminal syndicates staging vehicle crashes or people faking their deaths to get multimillion rand pay-outs. While these incidents dominate newspaper headlines, they form only a portion of the estimated R6 billion to R8 billion that the South African insurance industry loses to fraud each year.
A lot of fraud, if not most, takes the form of smaller claims from people who don’t think of themselves as criminals. It could be someone you know, like a friend who adds a Kindle they never owned to their claim after their home is robbed. “Many fraudulent insurance claims are made by people who think they’re telling a little lie to a big corporation,” says Ernest North, co-founder at digital insurance platform, Naked
