According to the Federal Bureau of Investigation (FBI), insurance fraud, excluding health insurance fraud, results in about $40 billion dollars in loss for insurance companies. Translated, this means a cost of between $400 and $700 per family in the USA, which includes all types of insurance, including vehicle insurance.
Detecting and Preventing Fraud
With this number on the rise, insurance companies, insurance fraud investigators and organizations like the National Insurance Crime Bureau or NICB are constantly looking for options and tools to quickly find information on vehicles that can expose many of the common types of automotive fraud.
Some of the information required in these types of investigations and for the determination of fraud is information about the vehicle and its use. The RFID and keyless entry fobs for vehicles contain a wealth of this information. Details such as the time and date stamp for the last key used to operate the vehicle are important. Additionally, the vehicle mileage, the VIN information, and the ID information for the vehicle can also be found on the key.
Some of the vehicle manufacturers, and specifically BMW, provide a lot of information on the key that is designed for service, but also provides necessary data for a wider range of applications.
Available Solutions
There are several exceptional tools available for combating vehicle insurance fraud. These same tools are used extensively in forensic automotive investigation and can be used to provide a range of relevant information and data.
A top example of this is the ABRITES USA VIN Reader. This is a small device with Bluetooth that pairs with the ABRITES VIN Reader app. The device captures the VIN number of the vehicle as well as the parts and compares them to see they match and are not recorded in stolen vehicle databases.
Other devices that provide this information include the Key Inspector and the PROTAG system, both also from ABRITES USA.
To find out more about the ABRITES USA Vin Reader, Key Inspector and PROTAG system for use in insurance fraud and investigations, visit us online. Specifics about each tool can be found.
