Belize’s insurance sector marked a pivotal milestone on July 3, 2026, with the official launch of ClaimsVAULT Belize, the nation’s first centralized shared motor claims intelligence system. The new platform was co-developed by the Organization of Insurance Companies (ORINCO) in collaboration with Jamaica-based EPIC Technologies, built to address rising fraud losses that have pressured the country’s insurance market for years.
The core function of ClaimsVAULT is to enable licensed insurance providers across Belize to share anonymized claims data through a secure, regulated digital infrastructure. This shared access gives insurers deeper, more timely insight into claims history, allowing teams to spot fraudulent patterns faster, streamline investigation workflows, and deliver more consistent, equitable outcomes for policyholders. Industry stakeholders frame the launch as a transformative shift from fragmented, company-specific data practices to collaborative industry-wide risk management.
Andrew Roe, CEO of the Roe Group Companies, emphasized that the long-term benefits of the system will extend far beyond insurance company bottom lines, ultimately delivering tangible savings and fairness to everyday drivers. “When insurers can detect and root out fraud systematically, we cut costs that are currently passed on to all policyholders across the board,” Roe explained. He added that the platform will also correct a longstanding inequity: safe drivers with years of clean records will no longer face indirect penalties for losses caused by fraud and high-risk drivers. By clearly distinguishing between low-risk and high-risk motorists, underwriting teams can craft more accurate, fair pricing that rewards responsible driving behavior.
Alma Gomez, Insurance Supervisor at Belize’s Office of Supervision of Insurance and Private Pensions (OSIPP), outlined the urgent market context that makes the new system necessary. She shared official first-quarter 2026 data showing that paid motor vehicle insurance claims hit $5.3 million, with an additional $5.5 million in outstanding claims carried over from prior periods. For health insurance, paid claims reached $5.1 million in the same quarter, with another $2.3 million in outstanding claims. Gomez noted that these one-quarter figures reveal a broader trend: insurance companies are facing sustained losses in these core lines of business. To offset these losses, providers have often been forced to raise premiums across the board or exit unprofitable market segments entirely, harming consumers.
Gomez added that the new platform directly supports recent regulatory requirements mandating enterprise risk assessments for all insurers, helping teams better evaluate both underwriting and claims risk. When leveraged effectively, the aggregated data from ClaimsVAULT will generate actionable statistics on recurring claim types and help industry analysts develop clear fraud typologies to strengthen prevention efforts going forward.
Across the industry, ClaimsVAULT Belize is positioned to deliver three key benefits to consumers: greater transparency through centralized access to verified claims history, faster resolution of legitimate claims, and broader protection for honest policyholders against the costs of fraud.