Équité Association, the independent not-for-profit organization dedicated to detecting and preventing insurance fraud, has published its inaugural annual report for the year 2021, sharing the accomplishments during its first year.
The report was published in advance of Équité’s annual general meeting on June 23, 2022.
According to the report, the efforts of Équité Association during its founding year delivered member value of $89.7 million across its main service areas. The year 2021 also saw Équité acquire the cross-insurer data analytics company Canadian National Insurance Crime Services (CANATICS) and the Investigative Services Division of the Insurance Bureau of Canada (IBC) - integrating both their analytics and investigative functions.
The year 2021 was a record-breaking one in terms of stolen car recovery, Équité said in its report. Over 1,000 stolen valued at more than $40 million were recovered from the Port of Montreal in 2021. The recovery was made possible thanks to Équité’s tri-party partnership with the Service de police de la Ville de Montreal (SPVM) and the Canada Border Services Agency (CBSA). Stolen car recoveries have increased 200% in the last three years, it was also noted.
Last year also saw Équité present to the Canadian Association of Chiefs of Police Organized Crime Committee a transactional strategy on the theft and export of high-value vehicles from Canada. The association also held a cargo theft presentation to the Department of Homeland security; this presentation was “well-received” by the 90 attendees from around the world.
Perhaps one of the most notable accomplishments of Équité last year was that its efforts to stamp out car theft have significantly raised media and public awareness of the issue. The association said there was a 1,000% increase in media impressions for Équité’s “Top 10 Stolen Vehicles” campaign from 2020; the campaign was extensively covered by Insurance Business Canada and other news outlets.
"Insurance crime is complicated and growing in its complexity. It requires true partnership to make a meaningful difference. I am proud of where we are today and how far we have come in our first year," said Équité Association president and CEO Terri O'Brien. "We are part of a larger ecosystem, united by the goal of reducing insurance fraud and protecting honest, hardworking Canadians."
