Ever wonder what makes a person willing to commit insurance fraud? A new Insurance Speak podcast featuring Michael Skiba, an international expert on economic crime and also known to much of the world as Dr. Fraud, takes us into the mind of a fraudster.
Skiba finds that many swindlers have a higher degree of cognitive thinking and weigh the risks vs. the rewards before committing the crime. For insurers hoping to deter insurance fraud, more risk and less reward are a key way to stop these individuals.
"It's a matter of ethics and honesty," he shares. "Thirty percent of the people are honest, 30% are dishonest, and 40% are situationally honest or dishonest. That means that 70% of the people could commit fraud if given the opportunity."
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
