Tag: Insurance Fraud

Kenya’s Bancassurance Model: Profits against Industrial Fraud

Open Message to Kenya’s Insurance Firms According to a Business Daily article dated September 16, 2019, Nairobi County stands out as the largest source of premiums for insurance companies with 80.67 percent of total premiums collected in 2018 originating from it, up from 72.76 percent the previous year. Data from the Insurance Regulatory Authority (IRA) ...

What You Don’t Know Does Hurt You

An assumption that we tend to base our arguments on, here in MaliLock, is that no individual, who owns and cherishes a high value asset and has consequently taken the extra step of having it insured, would be in a good mood when the reality dawns that day by day, he or she is being ...

Why Veridot® Microdots and Not Any Other?

Microdot Technology is a process of spraying thousands of microscopic dots onto vehicles or other assets in order to provide a unique identification. Each Microdot carries this unique identification which is registered to the owner, but is not visible to the naked eye. Microdot Technology is used in an attempt to combat car theft and has ...

How microdots can help curb vehicle Insurance Fraud in Kenya

Recently, there have been headlines across the media relating to strategies in which insurance firms have undertaken in response to the losses they have incurred due to scammers defrauding the industry with bogus claims. Picture this scenario, a high-end motor vehicle is insured multiple times in different companies then later reported as having been stolen ...

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