Combating Insurance Claims Fraud

SAS INSTITUTE INC | March 25, 2018

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Insurance companies should consider the possibility that 10 percent to 20 percent of all claims may be fraudulent. The impact is enormous. Fraud losses weaken an insurer’s financial position and undermine its ability to offer competitive rates and to underwrite reputable and potentially profitable business. For policyholders, fraud losses lead to higher premiums. In this supposedly victimless crime, everybody ends up paying the price. Governments have responded with new regulations and centralized fraud bureaus. Insurance companies have responded by establishing special investigative units (SIUs) armed with computer-based tools to detect and prevent fraud. Yet the problem continues to grow, and in recent years, it has grown significantly.

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DirectAsia Insurance

Welcome to the happier world of DirectAsia Insurance! We understand that we live a world where insurance is seen as a necessary chore, some find it mind boggling and some find it a hassle. DirectAsia wants to be the brand where honest and responsible people can receive a trusted, positive and joyful protection experience.

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