Best Practices To Bolster 'Fraud Intelligence’

P&C insurers must contend with conflicting priorities, such as fostering company growth while thwarting fraud that invariably tugs at the bottom line. Moreover, the very mechanisms that help drive progress—including mobile technology and data-rich social media—present unique challenges and added vulnerabilities to emerging fraud schemes. In some ways, data is both insurer friend and foe, enabling ever-enterprising criminals to execute their scams.

Such is the dilemma Forrester addresses in its new report, “Prevent Insurance Crime With The Four Cornerstones of Better Fraud Management.” According to the Cambridge, Mass.-based independent research and data analysis firm, insurers certainly have recourse, one that requires a fundamental shift in the way in which they view business.