Vtec exposes massive fraud at Allianz Insurance (video) | Breaking News

Vtec Motors Sri Lanka has uncovered a large-scale insurance fraud attempted by Allianz Insurance Lanka Ltd. by uploading a video on its YouTube channel.

The insurance company had attempted to defraud a customer of Vtec Motors named Ravi Panamaldeniya.

According to the owner of Vtec Motors – Oshan Diyagama, the insurance company has pressurised Mr. Panamaldeniya to use spare parts that are not compatible with the model of a car during repairs.

Refusing to do so, Vtec Motors had alerted Mr. Panamaldeniya who had been immensely relieved and grateful for enlightening him on the truth. However, this had only led to Vtech Motors being unofficially blacklisted by Allianz Insurance Lanka Ltd.

The YouTube video uploaded by Vtec Motors, elaborating this case, is as follows :


Further investigations by ‘Sri Lanka Mirror’ has revealed that helpless consumers are of the opinion that there are no solutions for such situations as insurance regulators are taking the side of such insurance companies.

According to industry sources, the Insurance Regulatory Commission of Sri Lanka (IRCSL) has now become a white elephant and if such an incident occured in another country, Allianz Insurance will be banned from insuring vehicles until the incident is thoroughly investigated.

Attempts to contact the Director of Investigations at the IRCSL – Ms. Prabhashini Samarakoon over the phone to learn about the legal implications of this case, were unsuccessful.

Several customers involved in insurance disputes told ‘Sri Lanka Mirror’ that it was extremely difficult to contact Ms. Samarakoon even through her direct phone line.

When reaching out to Allianz Insurance in this regard, we were told by a company spokesperson that no authorized personnel were available at that moment to issue a comment.

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