CIC Insurance Seeks To Reduce Medical Fraud


News : Kenyan group CIC Insurance posted flat pre-tax profit of KES1.67bn (US$19.01mn) in 2013, compared with KES1.65bn (US$18.78mn) in 2012, reports Allafrica. The company has stated that its claims increased by 30% in the year, driven largely by medical and private motor insurance payouts. However, the company's medical division registered a loss of KES293mn (US$3.33mn), equal to 26% of the total claims paid out. The loss was largely due to medical fraud, such as inflated bills and taking patients through unnecessary procedures, according to CIC's Managing Director Nelson Kuria.

This article is tagged to:
Sector: Pharmaceuticals & Healthcare
Geography: Kenya