13 Jul 2016
Motor insurance fraud is rampant. The General Insurance Association of Singapore (GIA) estimates about $140 million is wasted paying and investigating fraudulent and inflated claims annually. This contributes to the increasing motor insurance premiums every year and must be curbed. However, fighting fraud is not as easy as it seems and requires the collective effort of the community. Here's how you can help in our fight against fraud.
Seeing is believing and that's why this tiny device is a great way to fight fraud. Video recordings help investigators identify if fraud is involved. It is also considered one of the best piece of evidence to present in court. Just be sure to maintain your in-vehicle camera and replace if faulty.
Fraudsters target distracted drivers. A momentary lapse of concentration can land you in an accident. Always keep a safe distance from the vehicle in front and never tailgate. This will allow you more time to react in the event the driver in front suddenly brakes. You should also pay attention to vehicles around you because fraudsters may work in pairs or groups.
Avoid 'Friendly' Help
If a stranger walks up to you immediately after an accident offering to tow your vehicle or knows a "good" workshop, just say no. Most times, these "kind" souls are part of a syndicate out to cheat insurance companies. If found out, you too can be implicated and face dire consequences.
Evidence is very important in fighting fraud. When involved in an accident, take photos of the vehicles involved before moving them. Exchange particulars with the other driver(s) and note down the number of passengers and their age, gender and race. Also observe if any of the drivers or passengers has sustained any physical injuries or shows signs on pain.
Report the Fraud
Investigations into fraud are both resource and time intensive. If you think fraud is involved or have evidence, please contact your insurer or GIA Fraud Hotline (1800-44-37283) immediately. Send them whatever evidence you've gathered and don't leave out the small details. Every bit helps.
Keep these tips in mind the next time you're on the road and keep a lookout for possible fraud. Fraud can only be curbed with everyone's help.