The transformations that insurance companies have been going through still have a lot of room for improvement, as there are still pains at various points in the value chain. Some of them are: Bad communication with the insured. Tedious and lengthy settlement processes.

Fraud is inherent to the nature of insurance. This, because only a few companies are really able to make the benefits of a policy tangible without the occurrence of a loss, which makes policyholders feel that the value paid is an expense and

Finally, after this series of the Triangle of Fraud, we can summarize the keys of each vertex. Rationalization: although it is one of the most difficult to combat, building a relationship based on customer trust is necessary. This is how they will know

The last part of the fraud triangle refers to “rationalization,” or the reason the fraudster believes that insurance fraud is justified. Some of these frequent justifications may include the following: 01. “Everybody does it.” Small-scale fraud is a common phenomenon in the insurance

As we saw in the previous article, with the Fraud Triangle framework we can understand why an individual decides to commit fraud. Now we will talk about the vertex of “Motivation,” that is to say, the motives that make the individual commit fraud. 

Insurance fraud has always existed and affects not only insurance companies but their policyholders as well. This article will discuss the Fraud Triangle and its impact on the insurance industry. To give you an idea, it is estimated that the cost of insurance

In our previous article, we gave you a little taste about the importance of fraud prevention in the insurance industry. Some figures and also we mentioned two of the 5 technologies that are being used to stop them. So, in this article, we

It is known from FBI reports that insurance frauds (excluding health insurance) costs more than $40 billion a year only in the United States. However, if we add health insurance costs, the total amount of insurance in the U.S. market exceeds $100 billion.

Fraud has always been an issue of concern for the insurance industry, as it is one of the most sought-after targets for organized crime. In the words of Arturo López Linares, director of claims at Axa Spain, “digital fraud is the future we

Frauds are nothing new for any industry that we talk about, however, the industrial sector that is most known for commonly suffering this type of crime is insurance, where unfortunately the insured also pay the consequences due to the increase in your cousins.