Top-5-Red-Flags-Uncovered-in-Insurance-Claims-Investigations - PowerPoint PPT Presentation
Title:
Top-5-Red-Flags-Uncovered-in-Insurance-Claims-Investigations
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Veristep India plays a crucial role in uncovering the top five red flags in insurance claims investigations, helping insurers detect potential fraud. Inconsistent statements from the claimant that conflict with the evidence are often a major indicator of dishonesty. Exaggerated damages, where the claimant inflates the extent of loss or injury, is another common red flag. Suspicious timing, such as claims filed soon after policy inception, raises doubts. A history of multiple claims for similar incidents suggests fraudulent intent. Finally, lack of supporting documentation or inadequate evidence to back the claim often signals an attempt to mislead insurers. – PowerPoint PPT presentation
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Date added: 6 September 2024
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Title: Top-5-Red-Flags-Uncovered-in-Insurance-Claims-Investigations
1
Top 5 Red Flags Uncovered in Insurance Claims
Investigations
Insurance claims investigations can reveal
potential fraud. These are some red flags to be
on the lookout for.
2
Inconsistent or Contradictory Statements
Story Changes
Conflicting Information
1
2
The claimant's account of the incident differs
between interviews.
Information provided by the claimant contradicts
other sources.
Unrealistic Details
3
The story is vague, implausible, or contains
inconsistencies.
3
Exaggerated or Inflated Claims
Damage Exaggeration
Value Inflation
Unnecessary Repairs
Claiming more damage than actually incurred.
Overstating the value of damaged property.
Claiming repairs that are not needed or were
already completed.
4
Suspicious Timing or Location
Incident Timing
Prior Claims
The incident occurs shortly before a policy
change.
The claimant has a history of frequent or unusual
claims.
1
2
3
Location of Incident
The incident occurs in a high-risk or unusual
location.
5
Lack of Supporting Documentation
Missing Receipts
No proof of purchase for damaged items.
Incomplete Records
Missing medical records or repair invoices.
Unverified Documents
Documents appear forged or altered.
6
Discrepancies Between Claim and Evidence
Claim
Evidence
Theft of valuable jewelry
No signs of forced entry
Car accident
No skid marks or other damage
Water damage
No signs of water intrusion
7
Contact Information
Phone Number
Website
(91) 77 188 99 228
connect_at_veristep.in
https//veristep.in/
