Insurance companies join forces to fight fraud

Czech insurance companies have joined forces to combat growing insurance fraud, the daily Hospodářské noviny reported on Tuesday. They are introducing new software which will detect potential irregularities such as repeated insurance claims and similar insurance claims filed by the same persons with different companies. The software detector should help uncover criminal gangs who make a living off insurance fraud, filing claims with companies around the country. On average insurance companies lose around 11 billion crowns annually in insurance fraud, with car insurance claims accounting for 60 to 70 percent of the losses.