Many people think of insurance fraud as a victimless crime, but the truth of the matter is, it isn't.
While insurance fraud has become a major financial problem for insurance companies, the real victims are honest consumers who must pay higher insurance premiums as a result of fraudulent activity. In fact, it is estimated that insurance fraud costs Americans $80 billion every year.
What is Insurance Fraud?
Insurance fraud is any act knowingly committed by a person with the intent to obtain a benefit by deceiving an insurer. Applicants for insurance, policyholders, claimants or professionals who provide services to claimants may commit these acts. Insurance fraud costs can be the result of "padding" or inflating actual claims, or other common scams including, but certainly not limited to: misrepresenting facts on an insurance application, submitting claims for injuries or damage that never occurred; or staging accidents.
Crimes range from individual attempts at "making a few extra bucks" to fully orchestrated fraud schemes involving dozens, sometimes even hundreds of people. Regardless of who they are, these criminals are simply motivated by money.
What is Lancer Doing to Help Fight Fraud?
Lancer understands that insurance fraud affects everyone. That's why we've established a Special Investigation Unit (SIU) comprised of specially-trained professionals who investigate suspicious insurance claims and work with law enforcement agencies and the National Crime Insurance Bureau (NICB) to track down insurance criminals. We've also developed a corporate anti-fraud strategy and devoted the necessary resources to educate our claims and underwriting personnel on recognizing potentially fraudulent claims.
You're Part of the Solution
The fraud-fighting efforts of our SIU, law enforcement agencies and organizations such as the NICB are making an impact, but we need your help in the fight against this serious crime.