When we think of insurance fraud, we should include activities such as filing a false claim that is more than the original damage, false dates on an insurance claim, mixing lies with the truth based on how the accident really happened, etc. A person committing this fraud would think that it is not such a big deal since he is stealing a bit from a major insurance company. However, that is far from the truth.
Each of the above scenarios legally qualifies as insurance fraud. This fraud can take several forms. But it doesn’t matter what type it is, because either way it causes big losses for the insurers. Therefore, the investigation of such cases becomes a serious problem for the companies that suffer from them. An insurance fraud investigator Dallas is usually the one to come to the rescue.
A word about insurance fraud before we dive in!
Typically, an insurance industry will recognize 2 types of fraud as insurance fraud, namely hard and soft. When a person knowingly makes up a claim, it is said to be a hard claim. On the other hand, when someone has just added an element of fraud to a legitimate claim, it is said to be a soft claim.
How is insurance fraud detected by the companies?
The thing to keep in mind is that there are some types of insurance fraud that are harder to detect compared to others. But it has never been impossible to detect insurance fraud. For starters, there are computer fraud detection programs to fix this problem.
This is why many larger insurance companies already use such programs that help detect fraud. However, such programs do not eliminate the need for a human to actually investigate the fraud once it has been discovered.
This is where a professional insurance fraud investigator in Dallas would play their part. Someone who has experience and has handled such cases before is the best choice. He will know what the evidence may indicate once he finds it.
If this skilled private investigator finds strong evidence of fraud in a company, the company has a few options for moving forward with the case. For example, they may try to settle with the person called the insured. This generally means canceling the policy or even rejecting the claim.
When it comes to much more serious cases, state, federal, or local enforcement may also be involved.
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