To combat fraud, Insurance Bureau of Canada (IBC) has entered into an agreement with Crawford Adjusters Canada to exchange claims data in a common format. It is reported that insurance fraud costs Canadians $1.3 billion per year.
“The solution to insurance fraud lies in better access to information,” said Terri MacLean, IBC’s Executive vice president, Information and Investigations. “The relationship between IBC, Crawford, industry stakeholders and insurance professionals only stands to be improved through analyzing and sharing information.”
The relationship of IBC (www.ibc.ca) and Crawford reportedly benefits the insurance industry through anti-fraud efforts based on information gathering and analysis. The Automated Claims Exchange (ACE) information sent from Crawford to IBC is being used to assist with investigations and establish new partnerships.
“We are delighted to be the first adjusting company to partner with IBC,” said Glenn Gibson, chief executive officer of Crawford Adjusters Canada. “Data collection is an essential component in the property and casualty industry, especially in regard to insurance fraud.”
“One of the areas Crawford has put large investments into is our state-of-the-art IT systems,” commented Scott Sutherland, vice president of Information Technology. “This relationship will further help to enhance the quality of data from this technology while also exhibiting its potential.”
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