Organized Fraud

Why Fraud Detection Has Become a Strategic Priority

Conventional wisdom holds that adjusters refer roughly 2 percent of claims to special investigations units (SIUs). That may not sound like much and, truth be told, it isn’t. However, that 2 percent...

Five Ways to Unclog Your SIU

Are a seemingly endless number of assignments bogging down your special investigations unit (SIU)? The first step in handling that problem is to triage referrals at the top of the investigative...

Protect Yourself from the Rise in Organized Claims Fraud

Organized fraud is extremely difficult to detect, particularly because schemes have become increasingly complex. According to the Insurance Information Institute (I.I.I.), the National Insurance...

Claims Fraud Detection: What Are Your Priorities?

Claims fraud may occur in only 2 percent of claims, according to some estimates, but early detection — and prevention — are growing in importance. Why? According to a new study by Celent, as report...

Organized Insurance Fraud: Florida Leads Top 10

Questionable claims from organized fraud have surged over the past few years. Despite an 11 percent dip from 2010 to 2011, overall activity rose 47 percent from 2008 to 2011, according to the...

Case Not Closed: Your New Next Step in Claim Investigations

When I was a special investigations unit director, we would close a case, celebrate our success, and move on to the next one. That isn’t so different from what happens in the rest of the SIU...

Claims Modernization: Are You Prepared for Emerging Risks?

New risks and claims scenarios are routine in the insurance industry today. For the claims department, that means being able to understand new factors that contribute to a loss. New risks also...

Claims Modernization: Big Data, Big Opportunity

For many claims departments, the problem isn’t data — rather, the challenge is what to do with it. Insurance companies, for years, have become adept at generating data suited for further analysis a...

Claims Modernization: Time to Get Ready

Many insurance companies claim they are planning to update their claims systems over the next three years, opening a wide range of important decisions they’ll need to make in the near term. From...

Coming Soon: ISO ClaimSearch Foreclosure Alert

When your insured files a property claim, wouldn't you like to know whether the residence or commercial building is in foreclosure? Owners in danger of losing their property tend to face numerous...