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Fighting insurance fraud in Asia
With several extreme examples of insurance fraud recently making headlines in Asia, we explore what’s being done to stem the flow. Over the past few years, numerous stories of insurance fraud in Asia have made headlines. There was a woman...
31 May 2024
3 mins read
With several extreme examples of insurance fraud recently making headlines in Asia, we explore what’s being done to stem the flow.
Over the past few years, numerous stories of insurance fraud in Asia have made headlines.
There was a woman in Singapore who manipulated photos of receipts, boarding passes, damaged property and more, to make more than 20 fraudulent claims, mainly in the travel space.
There were numerous suspect traffic incident claims in Malaysia, with fraud losses reported at around US$426 million annually.
And there was an extreme case of a Taiwanese university student who suffered a double amputation after placing his feet in a bucket of dry ice for 10 hours, causing frostbite. He ultimately lost access to a US$1.3 million life, health and accident insurance payout when his original story — that he had suffered frostbite during a long motorcycle ride — was found to be fictitious.
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