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Crash for Cash Scams – RGI’s approach in reducing the impact of fraud

Crash For Cash

Crash for Cash Scams – RGI’s approach in reducing the impact of fraud

Insurance fraud has become increasingly common, with Cifas reporting an increase in fraud of 14% in 2022. One area insurers have seen a rise of fraud is in the form of crash for cash scams. These scams involve staged accidents or intentional collisions, often involving innocent motorists, in order to make fraudulent insurance claims. The result is higher premiums for all drivers and reduced confidence in the insurance industry.

 

This is where RGI comes in. As a leading provider of risk management and fraud prevention solutions, RGI is well-equipped to assist insurers in detecting and preventing crash for cash fraud.

One of the key tools that RGI offers is our intelligence analytics that can identify patterns and anomalies in claims. By carrying out an analysis from a variety of sources, including accident reports, police reports, and medical records, RGI can detect red flags that may indicate fraudulent activity.

For example, if a claimant reports injuries that are inconsistent with the nature of the accident or if multiple claims are filed by the same group of individuals, RGI’s intelligence team can flag these cases for further investigation.

RGI can also provide training and support to insurers on how to detect and prevent crash for cash fraud. This may involve educating claims handlers on common fraud schemes and warning signs, as well as providing tools and resources to help them identify suspicious claims.

In addition, RGI can assist insurers in partnering with law enforcement agencies such as IFED to investigate and prosecute fraudsters. By working together with these agencies, insurers can more effectively deter and prosecute fraudsters, which can help reduce the prevalence of crash for cash scams.

Overall, RGI is committed to helping insurers protect their customers and reduce the impact of fraud on the industry as a whole. By leveraging advanced analytics, training and support, and strategic partnerships, RGI can assist insurers in the fight against crash for cash fraud.

Want to know more about our services and how we can work in collaboration with you then contact Sarah or go to the ‘contact us‘ page for further information.

Sarah Glenn

Author:  Sarah Glenn – Commercial Director