A new benchmarking study is underway to help property andcasualty insurers see how their anti-fraud operations compare toothers in the industry. The 2015SIU Benchmarking study is being conducted by the Coalition AgainstInsurance Fraud and the Ward Group.
|The study will examine practices for fraud measurement,budgeting, quality assurance, performance management, training andlegal issues. Companies that participate in the study will receivea confidential, individualized report comparing their operations toinsurers of similar sizes and business lines.
|“Despite their many successes against fraud criminals, SIUsstill need more data to help roadmap their operations againstobjective benchmarks involving similar insurers,” explained DennisJay, the Coalition’s executive director. “Wider benchmarking datais a key pathway to enhancing overall SIU performance.”
|An inaugural study conducted in 2013 provided managers withvaluable information for assessing their operations and determininghow they compared to other operations in the industry.
|The deadline to respond to the study is November15. Insurers who participate will receive their customizedreports in mid-December. The cost for the customized report is$600, but Coalition members receive a $200 discount.
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