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Microinsurer rejects half of claims on fraud detection
Turaco has declined half the claims raised by its customers in the three months ended June, attributing the high rejection rate to invalid claims as well as the detection of fraud.
Turaco Microinsurance Limited declined half the claims raised by its customers in the three months ended June, citing stronger fraud detection.
Data from the Insurance Regulatory Authority shows Turaco Microinsurance received 12,186 new claims in the period April to June, while 1,038 claims were outstanding in the first quarter of the year, bringing total claims raised by its customers to 13,224 worth Sh119 million.
