Insurance fraud occurs when an individual or entity intentionally lies or omits important details with the end goal of receiving a better insurance rate or larger claim payout. With car insurance fraud, these lies or omissions could be something as simple as providing false information on your policy or something far more sinister, such as causing an accident.
Car insurance fraud is not a new concept, with vehicle owners devising various scams to get the most out of their insurance policy. Although insurance companies have improved their claim investigative processes with the purpose of eliminating fraudulent claims, business owners and pedestrians alike will still take the chance with the “he said, she said” game.
Types of car insurance fraud, you, as a business owner, should be aware of:
- False incident claims: This occurs when an individual fabricates or exaggerates events when filing an insurance claim for incidents that either did not occur or for damages that were not related to the event in question.
- False theft claims: This occurs when an individual falsely reports a vehicle as stolen with the end goal of receiving the insurance payout.
- False injury claims: This occurs when an individual embellishes or fabricates the extent of their injuries following an accident with the intent to claim higher compensation from the insurance company or Road Accident Fund (RAF).
- Staging accidents: This occurs when an individual strategically causes an accident with another vehicle to receive an insurance payout.
How you can protect your fleet from fraud with dash cameras
Fleet managers may argue that a fleet tracking system is enough to ward off insurance fraud. Although fleet tracking can provide insights into vehicle speed, vehicle location, and vehicle performance, it fails to provide the insights needed to determine whether an accident was solely an accident, or if it was a ploy for a hefty insurance claim.
Let’s explore a quick scenario:
Your delivery truck is involved in an accident, without a dash camera to corroborate your drivers’ story, the insurance investigators would need to determine whether the accident was a result of your driver being distracted by a cellphone, or perhaps there was a vehicle brake checking your truck, or perhaps your driver was negligent when changing lanes. This can easily turn into a “he said, she said” game, which could end up costing your company time and money.
Therefore, having a video monitoring system incorporated into your fleet not only safeguards your drivers from fraudulent claims that can potentially harm their reputation within your business but can also protect your business from fraud, whether internal or external.
Ways a dash camera can protect your fleet:
- Keep your driver safe: In the event of an accident, you can use event-based data to determine who was at fault, and to exonerate your drivers, helping them avoid unfair or fraudulent claims against them.
- Improve driver training: Fleet managers can use footage of their drivers to enhance driver training by identifying and correcting poor driving habits.
- Accelerate insurance claims: Being able to provide video footage of the event (whether in-cab or external), this can help speed up the insurance claim process, fast-track the vehicle repair process, and reduce vehicle downtime.
How to choose the right dash camera for your fleet
With so many dash camera brands on the market, choosing the right option is no longer as easy as 1,2,3. Check out these 5 top features that are an absolute must when selecting a dash camera that will act as your fleets’ added layer of security.
- Long-lasting battery and reliable storage: Having a reliable device that can record footage over multiple days (when the vehicle is active) and can store this footage remotely is a smart move for fleet managers to make. The last thing you need is a dash camera with low battery or no available storage, and then your driver is involved in an incident.
- High video image quality and night vision: “You get what you paid for” is an old saying that rings true in every facet of business. If you are going to spend the least amount of money safeguarding your fleet, you may end up with a dash camera that produces grainy and low-quality footage that is not usable at night. However, that does not mean you need to spend a fortune on a higher quality camera. Just be sure the footage is clear and the quality remains consistent whether it’s daytime or nighttime.
- Affordability matters: Camera systems can be expensive, and there are some companies willing to fork out the doe for them. However, that does not apply to every fleet manager, affordability matters! Be sure to set a security budget for your fleet and find an appropriate dash camera solution that meets your fleets’ security needs, after all, a dash camera is certainly a security investment worth making.
- Easy implementation: Opting for an easy to install “plug and play” dash camera is ideal for fleets not wanting to alter the vehicle with mounted devices. This type of feature can also prove beneficial when coming to device maintenance (if and when required), as it will be easier to remove and inspect.
- GPS tracking capabilities: Can your dash camera connect with other fleet management features to provide end-to-end tracking and monitoring solutions? This is definitely something to consider, especially when combatting insurance fraud.
Enhance on the road safety with Landmark Trackings’ video monitoring solutions
Video monitoring can be an invaluable protective tool for your business when you need to exonerate your drivers in the event of an accident, mitigate insurance fraud, and eliminate potential fraud and other scams. With Landmark Trackings’ video monitoring solutions, you can enhance the everyday road safety for your fleet whilst protecting your bottom line.
Reach out to our experts today on +27 (0) 11 728 4757 or info@landmarktracking.co.za for a tailored video monitoring solution!
