Battling Insurance Agent Fraud
August 1, 2019
Insurance fraud is a constant challenge to the industry and can take on many appearances, from fraudulent claims to elaborate scams and conspiracies created by agents themselves or working with complicit policyholders. The fraud can be small, amounting to an individual payment of a few dollars, or it could be a highly planned scheme worth millions.
This white paper is to help insurance providers focus on one specific area of fraud that often receives less attention than padded claims or intentional damages on property, and that is fraud conducted by agents themselves. It outlines many different scenarios, real life examples of their prevalence in the industry and suggestions on how to counter these specific schemes.