Fighting Insurance Fraud & Organised Crime in South Africa
In South Africa, annual short term insurance claim spend is estimated at R35 billion. If 10% of submitted claims are considered to be fraudulent, this equates to a shocking R3.5 billion lost per annum. Insurance fraud specialists, the South African Police Service (SAPS) and other related agencies agree that a significant percentage of crime, including insurance fraud and insurance related crimes, is highly organised and perpetrated by syndicates.
The Insurance Crime Bureau was formulated to address the rise of organised fraudsters who use insurance as a way of making money, by detecting and preventing such crimes from occurring as well as acting as the mediator for all insurance companies to work together in dealing with the problem.
The Insurance Crime Bureau does this through multiple hands-on operational initiatives:
- Cloned vehicles: The Insurance Crime Bureau is the national nodal point for SAPS investigations
- Cross border training: Provide training to organisations in the Southern African Development Community (SADC) region
- Training: Provide training to the South African National Defence Force (SANDF) and member companies on vehicle identification
- Automatic Number Plate Recognition (ANPR): The Insurance Crime Bureau is the nodal point to receive information on this SAIA initiative
The Insurance Crime Bureau is proud to be independently verified a Broad-Based Black Economic Empowerment Contributor. Please see the below certificate for the latest verification level.
The Insurance Crime Bureau 2019 Annual Report
The Insurance Crime Bureau now enters its Eleventh Year of successful operations, and has grown in both reputation and stature into a formidable organisation fighting Insurance fraud and related crime as highlighted in our 2019 Annual Report.
The report provides a comprehensive overview of the activities of The Insurance Crime Bureau, as well as financial and non-financial performances that are considered to be of importance to our Members, Associate Members, Partners and stakeholders, for the 12 months from 1st July 2018 to 30th June 2019.
The report also gives an overview of the company’s operations and strategy to grow the organisation by “Expanding Possibilities” within the industry as crime is without doubt a challenge to all South Africans.
The Insurance Crime Bureau was formed after a four year investigation by the South African Insurance Association (SAIA) on how to best address crime and fraud committed across companies in the short term insurance industry.Read More
The Insurance Crime Bureau was officially launched on 31 October 2008 to address organised fraud and crime through insurance fraud detection and prevention strategies in the short term insurance industry.Read More