Terri O'Brien

2024 was a momentous year, and on behalf of our members, we played a pivotal role in advocating for innovative solutions in the fight against auto theft. We doubled the members on ÉQ Insights while also growing the platform’s analytical capabilities; we delivered over $153 million in direct member value; and provided expert data, testimony and recommendations to support the commitment of over $200 million in federal funding to combat auto theft. 2024’s successes underscore the effectiveness of our initial three-year strategy and highlights the importance of industry collaboration, led by Équité, to reduce and prevent insurance crime in Canada.

Trend forecasting in this current climate is challenging due to global and national trade policy shifts that are occurring almost daily. However, there are a number of indicators that Équité Association is watching closely, including economic decline due to increased unemployment and cost of living, international implications of tariffs and trade policies, as well as catastrophic climate events. During periods of recession, we see key indicators that are associated with increasing crime, including insurance crime. From a property and casualty (P&C) insurance lens, Équité is keeping an eye on emerging trends, particularity in both auto and property crimes. As the cost of living and unemployment rise, we can expect to see more insurance crime.

From SUVs to pickup trucks, the Équité Québec Investigative Services team, together with the Montreal Police Services Department and Canada Border Services, opened containers and lined up stolen vehicle after stolen vehicle. Our team inspected each vehicle for theft and, once determined to be a stolen vehicle, each was set aside to be returned later to the lawful owner(s).

On November 15, 2021, our President & CEO, Terri O’Brien, presented an overview of Équité Association to an international audience. More than 45 speakers and 30 countries came together to share updates on challenges, trends, best practices and regulatory insights specifically related to insurance fraud. The conference targeted industry organizations that support insurers, law enforcement, regulatory bodies, data and analytics providers for industry, and other international organizations such as coalitions against insurance fraud.

On May 16, Équité Association’s Chief Technology Officer, Angel Yau-Vandenburg, was a featured industry leader on The Globe and Mail’s virtual panel, “Digital Frontline: Exploring IT Trends”. Alongside other IT industry leaders, the event examined how the latest IT trends are shaping the business and threat landscape.Angel has led the development and launch of ÉQ Insights, the first consortium-based intelligence platform to detect and prevent insurance fraud within the P&C industry, from the ground up.

As Canada’s national authority on insurance crime, Équité spokespeople participated in many Fraud Prevention Month events to raise awareness and provide insight on insurance fraud prevention for our members and industry partners. Notably, Bryan Gast, VP, Investigative Services represented our member insurers at the 2024 Auto Theft Summit hosted by Peel Regional Police and partnering police services and stakeholders. Canadian Underwriter featured an interview with Bryan on their podcast about Équité’s participation in the National Summit on Combating Auto Theft in Ottawa on February 8, and what the future could hold regarding auto theft prevention.

The momentum on combatting auto theft in 2024 has already exceeded my expectations. In February, I was honoured to represent Équité Association and the insurance industry twice in Ottawa to speak about the impacts of auto theft on Canadians and the solutions to keep our communities safe. The February 8 National Summit on Combatting Auto Theft was an important step forward to finding collaborative solutions.

In 2023, Équité Association launched the first of its kind for the industry – a national insurance crime detection platform, ÉQ Insights. We know fraud is hidden in insurance claims and can be hard to detect as each individual insurance company can only see the insurance fraud happening within their organization. ÉQ Insights is a tool that brings together industry-wide information in one place for effective fraud detection.

Équité Association specializes in uncovering fraudulent patterns within claims and our investigators guide our insurance industry members to identify, predict and prevent continuing fraud. With the introduction of ÉQ Insights, Équité has built a foundation to detect and prevent insurance crime using predictive analytics and machine learning.

Terri O'Brien is President & CEO of Équité Association, which recently merged the operations of an analytics company and the investigative services division of the Insurance Bureau of Canada. Modelled after the UK's Insurance Fraud Bureau and the National Insurance Crime Bureau in the US, Équité's stated goal is to eradicate insurance fraud in Canada by 2030.