Insurance fraud trends
Insurance fraud trends seem to be running in the vein of the insurance business. Policy holders, agents, insurers all are scamming others. IMO, it’s more important to understand its impact on the global insurance scenario than considering the isolated cases.
Insurance frauds can no longer be considered as the small and petty crime. Scammers now operate in the most advanced and organized form, involving entities like-health care units, lawyer’s office, business giants, body shop owners and so forth. The incidents ain’t rare where a doctor is ready to write a false certificate for the bodily injuries…..mechanics ready to inflate the repair bills in order to skim more money from the insurer.
It seems that dishonesty have engulfed the whole society. And the law enforcement authority’s inability to unearth most of these events is allowing the fraudsters to go scot-free with their booty.