Censeo held its 4th annual Business Brunch in Johannesburg this week themed ‘From first engagement to criminal verdict’, as a fight against insurance fraud in South Africa.
Censeo is a risk management company that provide administration, adjustment forensic services to insurance and assurance underwriters, underwriting managers and brokerages.
Censeo CEO Servaas du Plessis spoke about insurance fraud and he gave his overview of crime in South Africa based on the recent statistics released by the police. He warned that fraud and corruption was costing businesses a lot of money and companies have to put measures in place to mitigate these risks.
In his presentation, Du Plessis demonstrated a voice analysis Application software that is able to detect a fraudulent cellphone insurance claim. In this case, the suspect confessed to the alleged fraud. He expressed concerns that commercial crime was on the rise in the country but the prosecution and conviction rate was low.
Director and Chief Economist of the Efficient Group, Dawie Roodt gave an overlook of the South African socio-politcal landscape, challenges and as well as possible solutions.
Roodt expressed deep concerns in the way which ANC runs the government and saying the ruling party was implementing micro economic policies and undermining the private property rights. “We have a government that is ideologically confused”, he told delegates.
Roodt indicated that South Africa’s problems were labour issues, weak growth, poor skills and inefficient government. He said the government need to improve the efficiency of all SOEs, remove all obstacles on the way to grow entrepreneurship and create a world class skills development. With regard to government over spending, he said civil servants were getting paid a lot of money that could be used to employ more people and this would help to grow the economy.