Individuals with knowledge of wrongdoing should submit documentary evidence.
The General Insurance Association of Singapore (GIA) has launched a tip-off scheme that will reward individuals with the equivalent value of the fraudulent claim up to S$10,00 for reporting insurance fraud cases that lead to the successful prosecution and conviction of violators.
Individuals with knowledge of insurance fraud are required to present documentary evidence such as detailed descriptions, e-document trails like screenshots, digital proof like call logs, and actual copies of documents to prove the suspected fraud. These can be submitted to the GIA website.
The GIA Insurance Fraud Tip-off (GIFT) scheme represents an effort from the association to combat insurance fraud and mitigate claims cost inflation.
“Insurance fraud costs the industry millions of dollars each year and affects both insurers and consumers. We introduced this scheme to encourage members of the public to play a more proactive role in tackling this problem together so that insurance in Singapore remains accessible,” Chang Sucheng, GIA Insurance Fraud Committee Convenor said in a statement.
The most common insurance fraud cases in Singapore are from the motor, travel and personal accident segments.
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