Article

Effective technology-based approach to combating insurance fraud

The risk of insurance fraud is not new, but has now been amplified by the current economic landscape

The perpetration of fraud within an insurance environment has many facets related to traditional claims (for example death, disability, income protection and hospitalisation claims). However there are additional focus areas which exacerbates the propensity for fraud to be committed by various parties. The impact on businesses globally as a result of COVID 19 cannot be denied. However with increased claims unfortunately comes an increased risk of fraud.

Leveraging technology based solutions can assist in identifying fraud red flags and also reduce disruption to the claims process, ensuring that client turnaround times are top of mind and that legitimate claims are not unnecessarily delayed.

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