|
Fraud
Fraudulent claims when undetected add an unacceptably
high amount of cost, but as important is the increased
overhead in managing and detecting such claims to
ensure that fraud is eradicated.
| Fraud continues to be a
major issue for the insurance sector with 100%
of insurers, who replied to a recent survey, reporting
that they continue to invest in a number of fraud
detection techniques, be it as an existing procedure
or pilot project.* |
Fraud can come in many different sizes and varieties,
all of which are costly. It can be as simple as misrepresenting
facts on insurance applications and inflating insurance
claims or as serious as submitting claim forms for
injuries or damage that never occurred.
IFClaims is an entirely client centric system, and
as such, a complete client history can be viewed and
reported across all policies. Enabling the insurer
to obtain a view of the histories and trends of the
claim.
The system has also been designed to be integrated
with external databases such as the ABI industry wide
electronic fraud data system, or can provide a platform
where first notification personnel are able to utilise
external systems such as voice recognition.
For further information on IF Claims click
here
*Source of survey results:
Post Magazine, Claims Club
Benchmarking Survey
November 2004
www.postmagazine.co.uk/claimsclub
|
