6 Steps for preventing insurance fraud

DXC TECHNOLOGY | July 15, 2018

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Insurance fraud costs companies billions of dollars per year across the globe, making it imperative that insurers take a proactive stance against fraud. Insurance companies should establish a technology framework, tap into advanced automation and analytics, and take steps to prevent it. By many measures, fraud is deeply prevalent in the insurance industry. The Federal Bureau of Investigation (FBI) estimates that the total cost of insurance fraud in the United States is more than $40 billion per year, which translates to increased premiums of $400 to $700 per year for the average U.S. family. In the United Kingdom, insurers uncovered more than 130,000 fraudulent claims, valued at $1.7 billion in 2015, according to the Association of British Insurers.

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Texas Mutual Insurance Company

Texas Mutual Insurance Company, the state's leading workers'​ compensation provider, has a strong foundation of success. We insure 40% of the Texas workers'​ compensation market, which means that more than 64,000 business owners rely on us to meet the needs of their 1.4 million workers every day.

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