ICBC uses Facebook and Twitter to look for fraud related to injury claims and a tender was put out last week to find private investigations to help out. ICBC’s cyber team mines millions of pictures and status updates from dozens of sites like Twitter and Facebook. Investigators will also conduct surveillance, canvass neighborhoods, comb through financials records, reconstruct accident scenes to prove people are being honest when they claim compensation for injuries.
According to ICBC, as many as 15 per cent of the 900,000 annual insurance claims contain an element of fraud or exaggeration costing customers $100 and $150 each year.
In 2009, ICBC spent $14 million in 2009 on more than 100 firms. Currently, this budget has reduced to $5.5 million with an emphasis on internet searches. ICBC opened more than 6,300 investigations in 2014 for claims and driver licensing fraud, which resulted in 131 charges against 100 people and a conviction rate of 90 per cent.