Are you an insurer, or do you own or manage a company that offers insurance benefits to your employees? If so, then you’re probably no stranger to the idea of insurance fraud. Indeed, efforts to defraud insurance companies are so widespread the risk of fraud now figures into the cost of premiums.
And that’s the sort of fact that makes us relevant to your bottom line. Our investigators conduct detailed investigations into many types of insurance claims. These include accidents and worker compensation, health insurance, theft and life insurance. Doing so lowers the chances of paying out on fake claims. This keeps your operating costs down. It also keeps employees happy with lower premiums. It’s a win-win.
Mortgage insurance fraud happens whenever a property owner, or other individuals, seek to avoid repaying a mortgage that is insured. Now this can happen as a result of the buyer being untruthful about his or her income or assets. It may, however, result from other means as well. Mortgage insurance fraud is a big deal. That’s because It raises the cost of homeownership for everyone. Even worse, fraud at a high enough scale can lead to serious economic problems such as the 2008 financial crisis.
In Thailand, the Workmen’s Compensation Fund handles workplace injuries. And as with all forms of insurance, the potential for fraud exists. But Workers Comp is a government fund in Thailand. This makes it very important that employers remain sure that their staff are not filing fake claims. We can help make sure that’s not happening.
No form of insurance is more often subject to fraud than Life Insurance. And there are basically four ways one might seek to defraud a life insurance company:
This is, unfortunately, big business. Patients, doctors, even administrators commit many forms of health care fraud. Some of the more common examples include:
The bottom line of all this is that fraud raises the cost of healthcare for everyone. We remain committed to fight against this.
Now this is a very common form of insurance fraud, too. And In Thailand, organized criminal gangs have even become a part of the problem. Yes, one often hears that a gang member crashed his car into multiple vehicles. The purpose was to receive, through lawsuits if necessary, money from the insurers. Now sadly, it’s not just street thugs engaged in fraud. Actual insurance executives themselves were recently at the center of a series of Auto Insurance scams. The good news is that cops caught these industry insiders who had sold bogus policies to dozens of helpless victims.
A form of fraud that seems to be of increasing interest to scammers. And to be sure, property insurance fraud can come in many forms. It can mean harming the property on purpose to receive a payout. It can involve insuring stolen property. Thus, on a yearly basis, the cost in terms of lost resources can be huge.
So these are but the most common examples of the many forms of insurance fraud we see today. But they are why professional private detective agencies remain on the front lines in the battle against fraud.