How can insurance be fraud

How insurance fraud can be identified and contained

The fraudsters often have a good chance of getting away undetected and thus unscathed. But if you know the evidence and patterns of fraud, you can at least take a closer look. Nils Gebel, Sales Consultant Insurance at Creditreform Boniversum GmbH, gives a few insights into practice from his experience in working with insurance companies: "An atypical claim frequency is particularly noticeable, for example if claims are reported several times within a certain period of time. This is a popular line of business here, for example, private liability. If similar claims occur there every year, this can be an indication that the policyholder wants to get the risk premium back. "


There are also popular fraud scenarios in the field of motor insurance. Nils Gebel explains: "If damage to a high-quality motor vehicle is billed on the basis of a cost estimate or an expert opinion, which is rather unusual for such vehicles, this can be an indication that attempts are being made to claim the damage from several insurers." He continues: “There is also organized crime, especially in the motor vehicle sector. Entire gangs specialize in insurance fraud. Very popular: A rattle box drives into a luxury car at one point with right-before-left regulation. The damage is provisionally repaired, but the contribution of the expert opinion is collected. Since different insurers are involved here, repetitions are often difficult to identify. "


Even with life insurance, fraud can result in immense economic damage for the insurance company. "With term life insurance, fraudsters are sometimes particularly creative. Here, for example, the death of the policyholder is simulated abroad and the foreign death certificate, which is fictitious, is submitted to three insurance companies at the same time," says Gebel.