The evolution of fraud in the insurance industry

November 20, 2019

In fact, the Coalition Against Insurance Fraud indicates $80 billion of insurance fraud occurs in the U.S. every year.1 But given the often-intangible nature of insurance fraud, this is hardly a firm figure and doesn’t precisely identify operational costs incurred. With many forms of insurance fraud going unchecked, the actual amount of fraud loss insurers is dealing with — both in the U.S. and abroad — is often an educated guess at best.

Spotlight

Blue Cross Blue Shield of Arizona

Blue Cross Blue Shield of Arizona is a local, independent and not-for-profit health insurance company headquartered in Phoenix. Founded in 1939, the company has more than 1,800 dedicated employees throughout its Phoenix, Tucson, Tempe and Flagstaff offices. Providing health insurance products, services and networks to more than 1 million Arizonans, Blue Cross Blue Shield of Arizona offers various health plans for individuals, families, and small and large businesses. Blue Cross Blue Shield of Arizona also offers Medicare supplement plans to individuals over age 65. Blue Cross Blue Shield of Arizona is an independent licensee of the Blue Cross Blue Shield Association.

OTHER WHITEPAPERS
news image

2022 Property Risk Management Report

whitePaper | June 9, 2022

We are pleased to present the results of our second annual survey on property risk management from Archipelago and Advisen Ltd., a Zywave company. The survey took place during the first quarter of 2022 and was distributed to risk managers, insurance buyers and other risk professionals. In total, the survey received 209 responses. The data presented in the report focuses on responses from 187 risk managers who reported having a property portfolio greater than $100 million in total insured value (TIV). We sincerely thank all survey respondents for their valuable time and insights.

Read More
news image

5 Ways to Delight Your Customers with AI-Powered Self Service

whitePaper | July 24, 2022

Consumers are frustrated with companies’ poor customer service, and they’re losing patience. They’re repeating personal information, waiting on hold, and talking to overworked, sometimes unfriendly, agents. And it comes at a high cost: if you’re delivering a poor customer experience (CX), 96% of consumers say they’ll leave your company.

Read More
news image

How Artificial Intelligence is shifting the insurance model from Protection to Prevention

whitePaper | April 5, 2022

As a heavily regulated, intensively bureaucratic sector – a business founded on caution – insurance has always been slow to adapt. But a confluence of historic challenges is forcing the industry to undergo arguably the most radical change in its history.

Read More
news image

Institutional Investors and Corporate Carbon Footprint

whitePaper | December 27, 2021

Climate-aware institutional investors are assumed to affect the transition towards a low carbon economy by exercising their prerogatives as owners of global companies. Investors concerned with climate change can influence investee companies’ carbon footprint by voting at shareholder meetings on climate-related issues and by actively engaging with executives and board members. The authors study to what extent institutional investors’ ownership affected corporate carbon emissions in 68 countries for the period of 2007 to 2018.

Read More
news image

Shift technology insurance perspectives - Underwriting risk detection

whitePaper | January 18, 2023

Anyone who follows the InsurTech space knows that Shift Technology started life by applying artificial intelligence (AI) and advanced data science techniques to the challenges of identifying suspicious claims and helping insurers make better decisions about what to do with them when they were discovered. Fast forward to today, and Shift is supporting insurance decisioning across the policy lifecycle and throughout the claims process. This depth and breadth of experience gives us incredible insight into the trends shaping the insurance industry.

Read More
news image

The future of motor risk: Driver today, passenger next

whitePaper | September 26, 2022

There are several developments that continue to impact the automotive industry to a significant extent. Among these factors are the push by governments towards vehicles powered by new energies, the COVID-19 pandemic with its subsequent economic fallout – such as chip and raw material shortages – war, socio-demographic changes, and technological advancements.

Read More

Spotlight

Blue Cross Blue Shield of Arizona

Blue Cross Blue Shield of Arizona is a local, independent and not-for-profit health insurance company headquartered in Phoenix. Founded in 1939, the company has more than 1,800 dedicated employees throughout its Phoenix, Tucson, Tempe and Flagstaff offices. Providing health insurance products, services and networks to more than 1 million Arizonans, Blue Cross Blue Shield of Arizona offers various health plans for individuals, families, and small and large businesses. Blue Cross Blue Shield of Arizona also offers Medicare supplement plans to individuals over age 65. Blue Cross Blue Shield of Arizona is an independent licensee of the Blue Cross Blue Shield Association.

Events