YouTube Videos Save Insurers Money

On the subject of fraudulent claims…one by the name of Tim Barnum tried to cheat Farmers out of $32,000 by claiming his Ford Mustang was damaged when his tire blew out in a Georgia highway, but really it was trashed in Thunder Valley Raceway, where Barnum was drag racing. Farmers uncovered this tidbit via a YouTube video. Deja vu? Indeed. In a very similar scenario, Geico recovered some $61,465 it paid for a C7 Corvette that its owner claimed was damaged in Interstate 10 in Chandler, Arizona, but was actually damaged in a drag strip. Bottom Line: YouTube can be an insurer’s best friend and Carpe Data can be the enabler . Recall: the Santa Barbara-based provider of insurance data products recently raised $6.6 million in a Series A round led by Aquiline Technology Growth.