Combating Insurance Fraud
Insurance companies deal with millions of clients and victims while processing millions of claims under many types of insurance policies every year. The amount of monies paid out in claims exceeds billions of dollars every year which makes the insurance industry a target for fraud.
We have seen incredible ingenuity by fraudsters throughout our history but some of the more common ways in which an attempted fraud is made are:
- Workers’ Compensation
- Staged accidents
- Filing a false claim for medical costs
- Filing a false claim for property damage or theft
By utilizing a professional investigations company, experienced in fraudulent activity, you can not only protect and reduce your losses, but also benefit from the unbiased and external perspective a third party partner can bring.
We were approached by one of our insurance partners recently to investigate a potential Workers’ Comp claim. Everything appeared in order but their internal quality assurance program dictated that a certain number of random cases be selected for further auditing as part of their overall risk reduction strategy.
We were able to investigate bank records, credit reports and phone records while also conducting some limited surveillance. In this particular case, we were able to catch a serial fraudster in action and turn over our findings to law enforcement while also protecting our client financially.
In addition to assisting Insurance Companies in an investigative capacity, we are also proud to partner with many companies / syndicates to provide additional services such as:
- Kidnap for Ransom Negotiation
- Background Research
- Executive Protection