Effective fraud prevention today means P&C carriers need to be both proactive and reactive, with multifaceted methods of detection that create a perimeter defense against misrepresentation. Insurance-company executives have to employ enterprise-wide solutions that examine insurance applications at underwriting and apply intelligence gained through investigation of fraudulent claims to predict...
With the fine-tuned tactics that hardcore fraudsters employ to target their victims, no carrier can afford to lack a strong, unified strategy against fraud.
Over the next five years, we should expect dramatic changes in insurance underwriting, claims handling and fraud detection. What are the key trends, and what will be their impact on the claims-handling and fraud-fighting workflow between now and 2016? Here are some predictions.
Workers' compensation is plagued by fraud, costing insurers some $5 billion annually, according to the National Insurance Crime Bureau. Not only is fraud committed by those who wrongfully collect
