GPI Holding has joined the international Insurance Fraud Awareness Month and is launching an informational campaign aimed at educating the public about what insurance fraud is, why it constitutes a financial crime, and how it negatively impacts not only insurance companies but also honest policyholders and the insurance system as a whole.
Insurance fraud is one of the forms of financial crime and is punishable under criminal law. Such actions increase the cost of insurance services, prolong the claims review process, and ultimately reduce the accessibility of insurance for the wider public. The consequences of fraud are directly felt by every honest insured customer, as the additional financial pressure on the system affects the entire market.
Dimitri Dzirtkbilashvili, Chief Operating Officer of GPI Holding, commented:
“Unfortunately, insurance fraud is one of the most widespread financial crimes, and insurance companies actively and systematically fight against it. As a member of Vienna Insurance Group, GPI Holding utilizes European expertise, modern technological systems, and advanced analytical tools to effectively detect and prevent fraudulent activities.
We have a highly qualified team dedicated specifically to fraud prevention and detection. Although the number of such cases has increased in recent years, we have successfully identified and responded to each of them. It is important to emphasize that insurance fraud is a criminal offense and may result in imprisonment. We believe that this awareness campaign will contribute to increasing public understanding and prevention.”
For GPI Holding, combating insurance fraud is an important part of its corporate social responsibility. The company places special emphasis on:
- Maintaining and improving access to insurance services
- Strengthening the company’s financial stability
- Ensuring a fair and transparent insurance environment
- Implementing simple and accurate claims processes
According to the company’s data, insurance fraud cases are most frequently observed in health insurance and Auto insurance. Within health insurance, the most common practice involves the falsification of medical documentation.
In Auto insurance, staged traffic accidents are frequently reported, including cases where individuals intentionally damage their vehicles to receive insurance compensation.
GPI Holding has implemented clearly defined internal policies and procedures to prevent and manage insurance fraud, tailored to the specifics of each insurance product. Control mechanisms are applied across all stages — from sales to claims handling. The company also uses advanced monitoring and analytical systems to ensure timely identification and effective management of potential risks.
GPI Holding continues its active and consistent efforts to combat insurance fraud, which is an integral part of responsible business practices, customer care, and its sustainable development strategy.
