Crackdown on insurance fraud crimes yields result
2 months, 3 weeks ago

Crackdown on insurance fraud crimes yields result

China Daily  

A seven-month joint crackdown on insurance fraud, involving both police and financial regulatory bodies, addressed major crimes of public concerns, stabilizing the insurance market, officials said at a news conference on Friday. The special operation was launched by the ministry and the National Financial Regulatory Administration in late April last year, aiming to tackle growing concerns from public and insurance agencies over rising fraud activities. Lyu Weidong, head of the economic crime investigation team of Shandong provincial public security department, explained, "Hou's gang focused on personal accident and health insurance, which offer numerous small compensation with a simple qualification process. In one example from April 2024, an investigation by Hefei's public security bureau in Anhui province uncovered a fraud case involving employer's liability insurance led by a suspect surnamed Lu.

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Fighting against insurance fraud yields significant results
2 months, 4 weeks ago

Fighting against insurance fraud yields significant results

China Daily  

A seven-month special operation targeting insurance fraud has yielded significant results, officials said during a press conference on Friday. From April to November last year, over 1,400 insurance fraud crime cases involving more than 1.5 billion yuan were solved, and more than 300 criminal gangs were dismantled through a joint crackdown by the Ministry of Public Security and the National …

Combating fraud in the cost of living crisis with voice-based risk assessment technology
1 year, 10 months ago

Combating fraud in the cost of living crisis with voice-based risk assessment technology

The Independent  

Clearspeed is a Business Reporter client. A rise in speculative fraud amid the UK’s cost-of-living crisis has the insurance industry under pressure – but it’s also an opportunity to embrace innovative approaches and bring new technology into the fold. One consequence of the cost of living crisis is that the insurance industry is seeing a sharp increase in speculative fraud, …

“Living without fraud in the insurance sector is a utopian dream”
1 year, 11 months ago

“Living without fraud in the insurance sector is a utopian dream”

Live Mint  

Insurance fraud poses a genuine risk that requires industry stakeholders to take proactive measures, particularly in a rapidly evolving landscape that gives rise to newer types of risks. To shed light on the framework of the insurance sector and identify the various categories of fraud that occur within it, Mint spoke to Sanjoy Datta, Partner and Asia Pacific Chief Transformation …

More insurance fraud during pandemic year
3 years, 5 months ago

More insurance fraud during pandemic year

NL Times  

Dutch insurers noticed an increase in insurance fraud last year, particularly among companies. The insurers caught some 13,000 insurance fraud cases among private individuals and companies in 2020, preventing over 88 million euros of unjust claims, NU.nl reports. The number of insurance fraud cases among companies increased by a massive 40 percent last year. Many of the insurance fraud attempts …

Insurers claim €99 million in fraud prevented last year
9 years, 8 months ago

Insurers claim €99 million in fraud prevented last year

NL Times  

Last year insurers saved nearly 99 million euros by tackling fraud - a 10 percent increase compared to 2013, despite the fact that fewer investigations were done, the Association of Insurers announced on Thursday. Last year insurers launched more than 20 thousand insurance fraud investigations, 15 percent less than in 2013. According to the Association, these investigations saved nearly 99 …

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