If you’re thinking about over-exaggerating your claim in a car accident to get more money, you may want to think twice.
The BC Government and ICBC have announced a new analytics system to better detect future fraud.
Over the coming months, Canada’s second largest insurance company will use this technological tool to investigate and even issue criminal charges to any who overstates their claim after an accident.
“One of the things the tool is going to be able to do for us is that it’s going to be able to sift through large amounts of data on a consistent basis and free up our investigators time,” says Manager of ICBC’s Special Investigation Unit Chris Fairbridge.
According to Fairbridge, 10-20% of BC’s insurance claims are considered fraud, with almost all of them resulting in hefty fines for long convictions.
Transportation Minister Todd Stone hopes this new program will put the public at ease.
“Nothing upsets people more than knowing that there are people in the system who are cheating the system and costing all of us that much more. This is completely unacceptable behaviour and it’s something we must not stand for.”
Stone says false claims have included overstating injuries, claiming vehicle damage unrelated to an incident, or even staging an accident.