The project is pending approval.
Madalin Rosu, Car Division representative at UNSAR, said the IT application will enable companies to cross-check the entire record of car damages. He also said the value of potential frauds in the local auto sector is estimated at nearly EUR90 million.
Maria Boghian, development manager at Asisoft, said fraud is a major issue for insurers in Romania unless prevented or, eventually, tracked down. Boghian added that simple calculations based on official data show that an insurance company loses an average EUR15,000 a day due to fraud.
Romania’s insurance market reached RON8.29 billion in 2013, just 0.4% higher than in 2012, according to the Financial Supervisory Authority (ASF).
On the general insurance segment, which stood at RON6.64 billion, 37.18% of the premiums were mandatory car insurance RCA, totaling RON2.467 billion, 15.4% higher than RON2.137 billion in 2012.
Revenues from voluntary car insurance CASCO totaled RON1.795 billion, down 6.33% on the year.
Insurers paid claims of RON4.94 billion in 2013, 4.7% less compared to 2012.