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How to Successfully Refrain from the Rise in Insurance Fraud

imagesThere are certain retailers who have the reputation for being companies with ‘deep pockets’ who will pay faulty claims (e.g. slip and falls). A sitting target if you will all because of public perception due to past actions or inaction’s from previous claims.

In the same light corporations and their claims provider can gain a following that “they don’t challenge most of their questionable claims. They find it more cost effective to pay most of these claims instead of investigating them.”

If you want to be part of the solution involving the costly problem of insurance fraud then adopt the following as a strategy:

Take a Public Stance

Promote a culture that will not tolerate fraud and aggressively pursue prosecutions. Partner with an investigation company that you know are experts in their field or utilize your claims providers’ SIU (Special Investigative Unit) department or internal investigation division. Put these experts to work and watch your claim demands dwindle and overall profitability soar. Insurance claim payments are for people who have legitimately proven they need it. Let your company stand with this philosophy: This is no place for a fraudulent claim, not now, not ever!

This entry was posted on Tuesday, June 24th, 2014 at 6:29 PM and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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