Report: Insurers are likely to invest more to detect claims fraud

04/8/2013 | Insurance Networking News

Insurers have three general goals when considering a new claims system, and they are expected to spend more on claims-fraud detection in the coming years, a Celent report says. "Given the tough economic environment, it's more difficult for insurance companies to generate underwriting profits, and therefore they have to improve their combined ratio. In this context, identifying and fighting fraudulent claims is a key lever to improve loss ratios," the report says.

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