FTUSA Launches New Project to Combat Insurance Fraud and Enhance Services
Hatem Amira, Executive Director of the Tunisian Federation of Insurance Companies (FTUSA), has unveiled a new project that utilizes a computer system to determine the prices of new or used cars in a transparent manner. This innovation will benefit the subscription and indemnification processes by using real market prices.
Digitalization of Services and Creation of Anti-Fraud Agency
In parallel, the FTUSA is strengthening its services through digitalization. The Anti-Fraud Agency (ALFA) has been established to combat fraud in the insurance sector and related abuses.
Amira stated to the TAP agency that this structure will bring together the FTUSA, existing and future insurance and reinsurance companies, all of which will respect the rules of the insurance code. Its mission will be to coordinate and exchange information between these institutions to support judicial and security efforts against fraud.
Insurance Fraud: A Growing Concern
Insurance fraud takes many forms, from information concealment to deliberate manipulation, all aimed at obtaining an illegitimate financial advantage. Insurance fraud is not only illegal but also has significant financial consequences.
Financial Losses Due to Fraud
Amira highlighted that financial losses due to fraud represent 10% of total indemnifications paid, amounting to over 80 million dinars in 2023.
ALFA Agency to Begin Operations in 2025
The ALFA agency plans to start its activities in 2025 and will issue a call for candidates for several positions, including that of General Director.