A Hard Stance in Soft Economy
Thursday, November 29th, 2001 Fraud TechnologyThe good news is: We’re making progress in the fight against insurance fraud. The bad news is: Due to the softening economy and other factors, incidences of fraud are expected to increase. Fortunately, new applications of intelligent decision management software employing advanced artificial intelligence technology are empowering the investigative teams with the ammunition they need to take the fight on fraud to the next level. The efforts by insurance carriers and federal and state governments to find and prosecute insurance fraud are starting to produce results in recovering losses and in deterring potential fraud perpetrators. However, a number of factors in the environment and the marketplace are changing, which could create an upswing in insurance fraud in the near future. As the economy softens, opportunistic fraud is expected to increase.
