The Importance of Investigating Insurance Fraud

At the root of any insurance fraud is greed. What many fail to understand is that fraud hurts everyone. Insurance fraud costs companies millions every single year which often leads to raising consumers premiums. It’s probably a given that consumers aren’t happy about increased insurance rates. To keep a happy medium, it’s vital insurance companies scrutinize the claims they receive daily to lessen the occurrence of fraud.

The Different Types of Fraud

Insurance fraud occurs in with health insurance, home insurance, life insurance, workers’ compensation, and car insurance. Insurance fraud can also be categorized as soft fraud and hard fraud.

• Hard fraud is when the person deliberately intends to defraud an insurance. Examples of hard fraud include staging a car accident or setting a house on fire to get insurance money.
• Soft fraud is unplanned, yet a person may use an existing opportunity to get more. An example of this type of fraud would be a person claiming their work related injuries are more severe than they are.

Methods of Investigation

Fraud can be detected before paying claims through the use of anti-fraud technology and maintaining vital records. Still, there are times fraud may slip through the crack. This is why an insurance investigator in Tampa is crucial. With the help of an investigator, insurance fraud can be detected in multiple ways including background checks, private surveillance, social media monitoring, and through claimant and witness interviews.

Benefits of Conducting an Insurance Investigation in Tampa

As stated before, insurance fraud costs companies millions every year. The number one benefit of conducting an insurance fraud investigation is to save money. Another benefit is the fast and efficient method for which fraud is uncovered. Additionally, real evidence is discovered that can be used in court if necessary. Having access to Darwin Securities licensed and trained experts will get you the hard facts while saving you time and money.

To schedule a consultation with one of our investigators, please call us today at (813) 384-3881 or fill out our contact request form.