As schemes evolve and gain in sophistication, insurers must foster a culture of prevention across all facets of their operations to detectand ultimately defeatfraud.
As schemes evolve and gain in sophistication, insurers must foster a culture of prevention across all facets of their operations to detectand ultimately defeatfraud.
"Insurance fraud is a continuous game of cat-and-mouse, explains James Quiggle, director of communications for the Coalition Against Insurance Fraud (CAIF). Investigators build a mouse trap, but then swindlers build a better mouse. The industrys best defense is amassing field intelligence and analysis and then throwing that up against a...
The economy is down, and fraud is upalong with consumer acceptance of fraudulent behavior. A best-practices approach requires using new and established tools and building a reputation for being aggressive in the fight against fraud. Four insurers reveal how theyre waging war against fraudsters.
There is no question that insurance fraud costs Americans billions of dollars annually. According to the Coalition Against Insurance Fraud (CAIF), the business of fraud costs the industry an estimated $80-$120 billion each year.
Given the swell in user-generated content housed on social media sites, it is no surprise that insurance claims adjusters and fraud investigators turn to these sites when conducting investigations. Navigating the social media landscape, however, can be tricky. Here's what you need to know.