Insurance Fraud: SIU Optimization

insurance fraud: siu compliance and siu optimization photo by:

SIU optimization is paramount.

The National Insurance Crime Bureau reports $30 billion a year is stolen by insurance criminals. In fact, insurance fraud is one of the most costly white collar crimes in America, second only to tax evasion. Organizations and consumers bear the brunt of this crime, with the average American household paying $200 to $300 in increased insurance premiums annually due to insurance fraud.

Special investigative units (SIUs) fight insurance fraud by investigating fraudulent activity, examining suspicious claims and working with law enforcement to catch fraudsters. SIUs also train employees, including insurance adjusters and examiners to identify and fight fraud.

SIU optimization from Fraud Solutions ensures that organizations are working effectively to fight insurance fraud with the following services:

  • Evaluation of processes, procedures and practices
  • Review of investigative and analytic resources and tools
  • Assessment of staff personnel skills and professional development plans
  • Department road-mapping and work flow analysis: assist in applying the right resources to the right job, maximizing current staff
  • Gap Analysis
  • Process and procedure improvement recommendations: implementation schedules
  • Organizational: staffing design evaluation
  • Investigation and analytic best practices
  • Guidance in the development of a major case unit

Fraud Solutions provides a customized resource for developing and optimizing SIU in the fight against insurance fraud. This service ensures regulatory compliance and fraud reduction as well as improved operational efficiency and increased return on investment (ROI).

For more information about SIU optimization services, and how our anti-fraud solutions can enable your insurance business to resolve challenging fraud problems, please contact us.