SEDDK establishes new committee to combat insurance fraud

The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has implemented a new circular to establish a Committee for Combating Insurance Misconduct and a dedicated Misconduct Working Group. The initiative aims to strengthen inter-institutional coordination and develop unified strategies to combat fraud within the insurance sector.

The Committee will include representatives from SEDDK, the Association of Insurance, Reinsurance and Pension Companies of Turkey, the Insurance Information and Monitoring Center, and the Insurance Arbitration Commission. Its responsibilities include evaluating risk areas, reviewing reports from the Working Group, and providing recommendations for legislative changes.

To modernize enforcement, the Committee will also contribute to studies regarding the use of artificial intelligence, machine learning, and advanced analytics to detect and prevent insurance misconduct.