Hidden Costs of Fighting Insurance Fraud
I've been involved in fighting insurance fraud for 25 years, and without a doubt the most asked question I have been asked is "what is the cost of insurance fraud." It is a complicated question to answer and even the best research and the top fraud fighting organizations have a hard time coming up with a precise number. Recently the Coalition Against Insurance Fraud led a study that provided a new cost estimate across all lines of insurance business of $308.6 billion annually.
In my new article in the International Association of Special Investigation Units (IASIU) SIU Today Winter 2022 magazine I address the cost and impact of insurance fraud, hidden costs, metrics and measurement of insurance fraud and ROI on investment of fraud fighting solutions.
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