Fraud Risk Scheme:
A policyholder attempts to insure a property that does not exist, has already been destroyed, or for which a loss has already occurred. The goal is to obtain illegitimate compensation based on false statements or falsified documents.
Detection:
Verification of proof of existence (invoices, property certificates, recent photos, serial numbers).
Analysis of photos and documents using forgery detection tools (metadata, visual inconsistencies, duplication).
Cross-checking with previous claims and reporting databases to identify potential repeat fraud.
Prevention:
Geolocation of insured assets and registration in the information system.
Consultation of a centralized database of prior claims to prevent double indemnifications.
Automated validation processes for documents and photos submitted during policy application.
Share your feedback:
What tools, techniques, and processes are used in your organization to detect and prevent such fraud schemes?
