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As a fleet manager, you’re probably more than aware of ‘Crash for Cash’ fraud and the many ugly forms it comes in. Vehicle insurance fraud is massively affecting commercial vehicle fleets worldwide with claim payouts and insurance premiums being a constant challenge.
A rather dated belief is that ‘Crash for Cash’ fraud isn’t as common in the UK as much as in Eastern Europe or further afield. In fact, some would say ‘CfC’ fraud has reached epidemic levels in the UK.
Aviva valued fraud at £90m from last year, up 5.4 per cent from the year before This was the result of a 6.3 per cent increase in the number of fraudulent claims uncovered. Aviva also said they investigated about 1,400 suspect claims that year. Dozens of fraud rings have been uncovered by insurers as well, including one in Manchester where 150 fraudsters managed to claim £2m in bogus claims.
The Result Of This?
While measures are being brought in to help fight vehicle insurance fraud, it’s still costing insurance companies huge sums of money every year, who then have to increase insurance premiums to make up for losses. According to the Central Statistics Office, motor premiums have shot up by 60pc since 2010. This is a major problem for many commercial vehicle fleets.
What Can Fleet Managers Do?
Sometimes, no matter how good or safe a driver is, getting caught up in a ‘CfC’ incident is simply unavoidable. Thankfully, there are some things drivers and fleet managers can do to prevent claims and legal troubles.
Install Vehicle Cameras
What’s the best way to disprove a fraudulent claim? Cold, hard evidence. A simple video showing an attempt at fraud will refute any claim blaming the accident on you or your driver. The video below shows exactly this. In fact, once the driver told the fraudster he recorded the accident from his vehicle camera, he took off.
With ProVision CameraMatics, you can have footage within half an hour. If police are called to investigate, showing them footage and telematics data will prove your case instantly.
We’ve also heard from our customers that insurance companies are decreasing their insurance premiums because they use CameraMatics efficiently. There have even been cases of insurers co-funding the installation fee.
Report Fraud Attempts
Any attempt at ‘CfC’ fraud should be reported to authorities. Removing fraudsters from society will greatly benefit everyone. If you witness a ‘CfC’ fraud attempt you should report it immediately, preferably with video evidence. This will help reduce payouts, drive down insurance premiums and may even prevent innocent people from getting hurt.
Get Protected Now
For maximum protection, ProVision CameraMatics are here to provide you with the best platform in the market. Let’s start getting these fraudsters off our roads and behind bars where they belong!
It’s the technology that everyone is talking about, so REQUEST A QUOTE NOW and within 2 minutes you can provide us all the information we need to provide a detailed and accurate quotation.
