IIF 2016 – Motor insurance -the road towards profitability- is a top level environment for re/insurance professionals and a platform for the exchange of business insights on essential issues of the re/insurance industry. It took place on 17-19 April in Istanbul, Turkey. Dr. Thomas Brinkmann (Country Manager Greece & Cyprus, FRISS) presented a case study and best practices in fraud detection and risk assessment.
FRISS answered the following question: How can insurers better cooperate to fight fraud more effectively? An effective approach against insurance fraud goes further than claims. Solutions to improve risk assessment at underwriting allow insurance companies to prevent fraud at the first line of defense. Learn more about the content of the presentation? Click here.
According to the International Insurance Forum (IIF), the motor insurance markets have remained highly competitive during the last years, maintaining a strong pressure on tariffs and challenging insurers’ profitability for this business segment, especially on the MTPL insurance line. GWP growth is good, but not enough to ensure a positive financial result of the MTPL segment.
As new technologies are already playing an important role in motor insurance underwriting, marketing and distribution, the future technological progress may not only determine fundamental changes from an operational perspective, but require a completely new approach towards liability in the sector.