The event was opened by Kevin Thompson, CEO of Insurance Ireland, who welcomed speakers and delegates to the conference. He outlined the background to the event and the importance of fraud awareness within the industry. He highlighted the size of the attendance as an indicator of the importance of addressing fraud.
Kevin spoke about the current initiatives undertaken to address the cost of motor claims and he commented on the activities of the Claims Committee at Insurance Ireland that is focused on identifying cost drivers in the insurance industry. He cited the need to take action to reduce these sources of cost as we are out of step with similar markets abroad. For example we pay approximately three times more than the UK for whiplash claims.
Kevin also stressed the point that insurance fraud is not a victimless crime. It actually adds about €50 to the average motor premium which drives up costs for everyone. In summing up, Kevin highlighted the importance of consumer awareness about fraud and mentioned plans to update the anti-fraud campaigns that are currently running in the media.
The CUBE team attended the event, special thanks to Insurance Ireland for the invitation and special thanks to Ann o’leary and West Thornton for all the arrangements.
Launch Tech and the CUBE team recognises this very important event and the hard efforts done by Insurance to combat all aspects of Insurance fraud.