In the United States, insurance fraud is a frequent occurrence. This particular crime costs Americans tens of billions of dollars annually since insurance coverage rates rise to counter the loss. Fortunately, companies are taking steps to stop people from committing this crime. One way to take action is to hire an insurance fraud investigator. Insurance companies hire fraud investigators frequently. In fact, according to reports, the career is likely to grow by about 7 percent through 2018.
When companies hire a professional investigations firm, they’ll have an experienced individual researching a suspected fraud situation. In most cases, a professional insurance fraud investigator is able to make a determination quickly. Also, experts know how to gather the kind of evidence that will hold up in court. Often, people who commit insurance fraud have a history of acquiring funds this way. Stopping them helps the country’s upstanding residents, insurance companies and businesses. By investigating insurance claims that appear to be fraudulent, insurers may recoup thousands of dollars per claim and save millions of dollars every year.
To establish insurance fraud, investigators use various methods. For instance, old-school detective work still gets the job done. An insurance fraud investigator may conduct surveillance on employees who are out on worker’s comp to obtain proof of fraud. Today, social media makes an investigator’s job easier. Many people share every moment of their daily lives on social networking sites, so investigators search popular websites to help establish fraud. Even if a fraud situation cannot be prosecuted, an insurance company may be able to justify a discontinuation of benefits.
The Coalition Against Insurance Fraud has determined that approximately $80 billion is dispensed annually in fraudulent insurance claims. Unfortunately, everyday Americans wind up footing the bill through higher premiums.
By hiring an insurance fraud investigator, companies keep their overhead costs down and stay competitive. With the proper evidence, insurance scammers can get what they deserve!
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