Toronto, Ontario — Oct. 4, 2013 — The insurance industry will welcome a new not-for-profit organization designed to aid in the fight to indentify suspicious or fraudulent insurance claims.
Canadian National Insurance Crime Services (CANATICS) will enhance the abilities of insurance companies to fight auto insurance fraud, an act which can become a significant cost to consumers across Canada. While the problem is nationwide, fraudulent claims are particularly common in Ontario. In a report by KPMG Canada, which was prepared for the Ontario Auto Insurance Anti-Fraud Task Force, it was estimated that about $1.6 billion is paid out annually by insurance companies in response to fraudulent claims.
Ben Kosic, who is the newly appointed CEO of CANATICS, says the organization will provide the necessary assistance that companies need to limit the frequency of insurance fraud.
“By uncovering networks of connected claim activity across insurers we will help ensure that investigators focus their investigations on the right claims,” says Kosic.
The Anti-Fraud Task Force released a final report in fall 2012 in which it recommended that insurers move aggresively towards establishing an organization that would pool and analyze claims data for the purpose of identifying cases of organized, pre-meditated fraud.
Kosic is a former KPMG Canada partner with over two decades of management and technology consulting experience, in addition to having deep and thorough knowledge of the industry and its analytics.
CANATICS also announced its board of directors.
George Cooke, Independent chair
Carolynne Jardine, Vice president of claims services at TD Insurance
Barbara Bellissimo, Senior vice president at State Farm Insurance Companies
Jay Stark, Vice president of fraud management at RBC Insurance
Karin Epp Ots, Senior vice president of regulatory and government relations at Aviva Canada
Kenneth Lindhardsen, Vice president of claims operations and legal counsel for Ontario, Atlantic and Western regions at Desjardins General Insurance Group
Kevin John McConkey, Casualty director at Allstate
Mark Feeney, Vice president for the Central Ontario Region at Co-operators Group
Mathieu Lamy, Senior vice president of claims at Intact Financial Corporation
For more information on CANATICS, please visit canatics.ca.