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Daily Insurance Industry News
Tuesday 23rd of January 2018
April 6, 2010

MMA fights insurance fraud with SIRA

by Gill Montia

Story link: MMA fights insurance fraud with SIRA

MMA has signed up to the SIRA system (Syndicated Intelligence for Risk Avoidance) joining a number of other insurers in the fight against insurance fraud.

Using SIRA, the broker-only general insurer says it can search financial and insurance fraud databases to identify potential risks, either at the policy stage or upon receipt of a claim.

The intelligence gained will then be used to flag potential issues for investigation.

Commenting on the move, the firm’s commercial director, Bob Perry, says: “We are currently using the system to review all new motor claims and all new motor business with the option to extend the use of SIRA to home and commercial policies and claims at a future date.”

Recent research from LV= suggest that the number of suspect insurance claims has increased significantly since the onset of the recession.

According to LV=, 40% of solicitors questioned have experienced a rise in spurious claims, over half of which have involved car accidents.

Whiplash is the most commonly reported fake injury, followed by post-traumatic stress and strained muscles.

 

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