GDPR - A new challenge in the insurance fraud fight

Application of the General Data Protection Regulation (GDPR) may significantly impact upon insurance industry's projects which imply data sharing between members, among others for fraud fight purposes, Irish Minister for Justice Charlie Flanagan has said, reports The Irish Times.

Mr. Flanagan's statement came in response to a parliamentary interpellation about the steps that were taken to deal with fraudulent insurance claims, which are considered as one of the reasons leading to motor insurance costs increase. In January, last year, a report released by the Cost of Insurance Working Group was recommending, among other measures for a better control of the motor insurance price level, the establishment of a national claims information, funded by the industry but managed and store by an independent body, as the Central Bank.

Yet, while adding data to the already existing InsuranceLink - insurance claims database created by Insurance Ireland and the self-insured claims task force to assist their members in the detection and defense of exaggerated claims which may result in prosecutions for fraud - will obviously require a serious analysis to justify the potential addition of new datasets, the structured and content of InsuranceLink database itself is put under scrutiny.

"In 2010, the Data Protection Commissioner carried out a special investigation into the Insurance Link industry database, which at the time had over 2.4 million claim records on Insurance Link representing details on a large part of the population.

The investigation was prompted by "significant concerns" on the part of the commissioner about the operation and legitimacy of the database and its compliance with data protection legislation", wrote Irish Times. It found that "far too many individuals in insurance companies had access to the database with little or no oversight of that access".

As a result, Charlie Flanagan said that as a first step, "it is necessary for the insurance industry to undertake a review of the information held on the Insurance Link industry database in the context of GDPR".

As the insurance claims databasis, in different forms, are holding an important part in the insurance fraud fight in most European markets, the Irish "case" will probably not remain a singular one, meaning that GDPR application will additionally challenge insurers in their attempts to control the insurance fraud phenomenon.

Share |

Related articles

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

2018-06-20

20 years of the BRCC

On Thursday, 14 June, the BRCC - British Romanian Chamber of Commerce celebrated its 20th Anniversary at the House of Lords in London, UK.

2018-06-15

ING and AXA announce digital partnership to build a global insurance platform

ING and AXA announced an exclusive, long term, multi-country bancassurance partnership to provide ING customers P&C and health and protection insurance products and related services through a central digital insurance platform, in six markets: Germany, Australia, Italy, France, Czech Republic and Austria.

2018-06-14

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

2018-06-12

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all