It's no secret that insurance fraud is a multi-billion dollar a year enterprise. The Coalition Against Insurance Fraud estimates that nearly $80 billion in fraudulent insurance claims are made across all lines annually in the U.S., but the number is probably much higher due to unreported or undetected claims.
This month we look at several different aspects of fraud and the steps insurers are taking to combat it. Pierre Khoury begins with the use of what he terms "pocket technology" and its role in data mining the various social media sites. Facebook, Instagram, Snapchat, Twitter, Vine and Tumblr are all more likely to be accessed primarily by mobile users, and investigators need to track them and their insureds using mobile technology.
Laura Toops provides an overview of the top five strategies of insurance fraudsters, and they are getting extremely creative. They monitor global trends, take advantage of the vulnerable and use technology to "document" their losses. You won't want to miss her article.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
