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Enabling Smarter Claims Fraud Management

Organizations need a clear understanding of current trends, challenges and available technology solutions to be able to deploy or improve an insurance claims fraud program.

By Kent Lefner | Updated on August 29, 2012

Editor’s Note: This article has been contributed by Kent Lefner, the North American Leader of the Business Information Management Practice at Capgemini Financial Services Global Business Unit.

Insurance claims fraud is big business—and it’s getting bigger. Fraud rates are increasing by 19 percent each year, according to the National Insurance Crime Bureau (NICB), and contributing roughly $336 billion per year globally to insurance claim costs, according to a 2010 Capgemini study. With more people resorting to fraudulent activities, companies are continually looking for ways to reduce the impact of fraud on their businesses.

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