Dont Pay Claims Yet, Conduct An Insurance Fraud Investigation
Insurance fraud is huge these days with millions of pounds being defrauded in the U.K
. alone each year. Unfortunately, no one knows the true extent of this fraud since many people get away with it each year and the insurance company being none the wiser. However, if you hire an insurance fraud investigator, you stand a better chance of proving fraudulent claims.One of the most vital components of the insurance industry is investigators. There are many indemnity products that cover a number of liabilities for a vast array of situations. While some cases are cut and dried, there are a number of insurance claims that seem suspect and requires some investigation to ensure validity. Insurance fraud investigation is important as it not only protects the insurance company against bogus claimants but also protects those people who truly do have legitimate claims.
Types of Insurance Fraud
Just imagine all of the money you spend on insurance. There are policies for your vehicle, motorcycle and boat against collision and injury. You might insure your home or apartment against fires, theft or even damage from natural disasters. Businesses might have insurance against injury while on the property, natural disasters and even vandalism.
Personal injury is often the subject of insurance fraud investigations. Some people fake injury after a car accident or even after a health care treatment. Workers compensation cases and even disability cases with filed insurance claims warrant investigation. While most people are honest, there is a growing trend towards litigation and trying to cheat the insurance industry with false claims.
Why Insurance Fraud Investigation Makes Sense
Potential insurance fraud is not aggressively followed up on by many police agencies because they must spend their resources on real crime like murder, theft, assault and the list goes on. Fraud can be hard to prove which is why insurance criminals are harder to catch. This is why an insurance company will invest in an insurance fraud investigation. The money spent is often a drop in the bucket compared to the potential money paid out in a claim.
Investigators are trained in surveillance, computer intelligence gathering, witness interviews and more. They have the tools to follow potential fraud cases and catch them in various actions which can disprove their insurance claims. For instance, a claimant could say they have whiplash or back problems as the result of a car accident. However, if they are caught horseback riding or changing a tire with these injuries, they are likely not going to be compensated because they were caught scamming the system.
As you can see, insurance fraud investigation can be an important asset. Investigators and the companies that hire them can then use the evidence collected to file criminal or civil charges against the fraud perpetrators and avoid paying unnecessary insurance claims.
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