It is accepted by majority of countries that insurance is one of highly beneficial and useful way of having a healthy and prosperous life by avoiding all tensions of meeting with a risk and menace which can put your life in danger also create multiple hazards on your wealth comprise of immovable or movable assets and properties and other precious and valuable which you have earned with great labors and harder efforts and you will not like to lose so easily. This is the insurance which provides the great ways to have the complete cover from wide variety of natural or artificial risks create due to natural calamities and man made threat.
Apart of having lot of eminence and excellence in taking the invariable use of policies and plan offered by insurance services providers for the effective benefits of users, why there are lots of probabilities of getting the frauds and corruption in these processes and why organization are projects for having lot of financial and economic losses due to growing frauds and corruption in this sectors. When we tried to discuss the issues with insurance companies working in different companies and having the different kind of environments for carrying out insurance related works then we could get some shocking statements from different services provider operating in different countries.
When we tried to interact with prominent insurance companies working in different part of South Africa, for getting their views on Insurance fraud claim investigation in South Africa then we had some typical review in their statements which were revealing that these investigations are not able to fetch reliable and consistent results in every case and most of the times they don’t find clarity in records, evidence and witnesses statement due to which frauds are nor clearly revealed and claimant get the benefits of doubts and companies have the remit the claimed amount by getting the excuse for delays and inconveniences.
On the other hand, when similar topics were discussed with majority of companies working in various parts of South Africa, an island country considered to have lesser frauds and crimes due to less population and less scope of any unlawful activity in insurance works. We had entire different verdicts from them. They accepted that insurance fraud investigation are really working out here and they had special mention to claim investigators in South Africa who are putting their heart and soul in making the things easy for the companies to have an effective system of observation where each claim is completely tested and verified at all level and each enclose is perfectly examined for its originality and trustworthiness and suspicious claims are separately scrutinized and verified by taking the good use of claim verification Services.
They do accept that this could be possible due to clear cut utilization of claim investigations in South Africa which are comprehensively providing the quality results in lowering the frauds in this sector which in turn improved the quality of insurance works by saving huge amount of money which might go waste in the remittance of fakes and staged claims. With that it is proved that location and territory have an impact on the insurance frauds which varies as per the change in location and place. That’s why it is quite difficult worldwide level of insurance frauds.
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