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Did you know?

Did you know?

It’s reported that Insurance Fraudsters cost the Australian economy an estimated $2.2 billion every year. And you know who is impacted? Yep, you, our honest, hardworking Poncho Policyholders.

Insurance Fraud Bureau of Australia

The Insurance Fraud Bureau of Australia (IFBA) is managed by the Insurance Council of Australia (ICA), established to help combat insurance fraud in all its ugly forms. They are the representative body of the general insurance industry in Australia.

The true cost of Insurance Fraudsters

Fraud costs everyone in the long run. It means insurers have to charge higher premiums, as well as (potentially) higher excesses (ouch) and limitations in cover or additional exclusions where the cost of underwriting becomes too high (double ouch).

We say, no fair!

Here at Poncho, we reckon it’s just not right for our Poncho Insurance community to be paying for other’s broken internal moral compass. Nope, we’re not having it. That’s why we’re working away tirelessly under the hood to keep those no-good Fraudsters at bay.

How are we keeping the Fraudsters out?

Well, we’ve got an awesome team with serious insurance know-how using cutting-edge data analytics and machine learning to name and shame those fraudsters and help to ensure we protect our Poncho fambam and ourselves.

Got suspicions you’ve spotted a Fraudster?

Report the act

You can confidentially contact the Insurance Fraud Bureau of Australia and ensure good karma by reporting them.

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