South Korean insurers recorded a 2% increase in fraudulent claim notifications during 2020.
With 98 826 cases recorded last year, this scourge generated losses of about 898.6 billion KRW (808 million USD).
Non-life insurance fraud [4] accounts for 91.1% of the total amount of false claims.
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[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Finsurance-fraud-in-south-korea&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-giants-of-the-net
[4] https://www.atlas-mag.net/en/article/insurance-fraud-detection-and-cost-to-industry