Robbing many Americans billions of dollars every year, insurance fraud is one of the scams that is very costly in the US economy. It is estimated that the total cost of insurance fraud is more than $40 billion per year according to the statistics of the FBI. All for the fraudulent acts done by many, indicate that the average household is paying higher premiums. Being subject to legal repercussions in most states, anyone seeking compensation through fraudulent claims from insurance companies are committing a crime. Many insurance companies are following strict due diligence procedures and acting with extreme caution when paying out claims to insurers because of this. For someone to receive their claim payout, this may result in needing professional help. Today, we at Advanced Private Investigator & Security of Miami, FL would like to briefly discuss a private investigators role in insurance fraud investigations.
Types of Insurance Fraud
Including accident fraud, life insurance fraud, workers’ compensation fraud, property fraud, and more, there many types of insurance fraud that occurs. Considered to be fraudulent behavior to fall into two categories of insurance fraud. The first is in reference to claims that are completely fabricated, which is hard insurance fraud. The second is the soft insurance fraud occurs when someone has a legitimate claim but will unfortunately inflate the value to receive a larger payout.
Options for Fraud Detection by a Skilled Private Investigators
There has been a great opportunity for Private Investigators to investigate this matter and cut down on these fraudulent acts due to this major problem in the United States. Companies have created many strategies to take on fraudsters since fighting insurance fraud is a serious matter for insurers. Below are a few steps a private investigator will take to detect fraud.
1) Insurance documents care carefully reviewed.
2) On the suspect, there is visual and/or audio surveillance conducted.
3) Within the claim, an investigation research is performed.
4) After all evidence is found and gathered, it is reviewed.
5) On the claimant, there is background check ran.
6) The claimant and his/her associates are interviewed.
To see if they are committing fraud in their insurance claim Advanced Private Investigator & Security of Miami, FL conducts surveillance and investigative research on claim subjects. By locating and interviewing witnesses, to record all statements and reports, we provide thorough insurance fraud investigations services. A full, detailed report pertaining to the findings of our investigations is received by all of our clients. If necessary, these reports can be used against the claimant in court.
Private Investigator & Security Services in Greater Miami, Sunny Isles, Fort Lauderdale, Boca Raton & Miami Gardens Florida
With experience to the detrimental effects of fraud in different ways as fraud can be a costly crime and many companies. Fraud is a real and constant danger to any business in many types of instances. To detect fraud in its many different forms, a professional private investigator like Advanced Private Investigator & Security of Miami, FL is trained. In addition to serving as an effective deterrent if your employees know we are watching, many of our investigative specialists have a background in law enforcement and are particularly capable of spotting fraudulent transactions. Contact us today!
