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Claims Fraud Network Analysis
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Classified ad is posted by | Company |
A Few keywords that are highlight of your Advert. | Insurance Claim Frauds |
Classified Highlights | Insurance Claim Frauds may be defined as the act of wilful deception or creating a hoax, to secure unlawful or unfair gain, mostly pecuniary benefits. |
Advertisement Description:
Insurance today is considered both as a form of security and investment. It gives a sense of assurance to its client- the courage to mitigate unforeseen mayhem in life. But with the influx of fraudulent activities and felony across various industries, the insurance sector stands to be no exception. One of the ways that miscreants try to get money from insurance companies is through Insurance Claims Fraud.
Insurance Claim Frauds may be defined as the act of wilful deception or creating a hoax, to secure unlawful or unfair gain, mostly pecuniary benefits. These are false insurance claims filed with fraudulent intention towards the insurance provider. It is said that insurance fraud has existed whenever insurance policies are curated, taking different forms, to suit the economic scenario. Fraudulent claims account for a substantial portion of all claims received by insurers and cost billions of dollars annually. These, in turn, affect the lives of innocent people, both directly through accidental or intentional injury or damage, and indirectly as these crimes lead to the higher insurance premium, posing as an unjust practice towards the innocent masses. Fraud drains profit and also puts a company at a competitive disadvantage.
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