Deloitte Forensic center article - Case Study Example

Deloitte Forensic Center Article — "Reducing claims fraud: A cross-industry issue" The most surprising thing that I took from this article was that only one out of every five adults felt that it was okay to defraud insurance companies depending on the situation involved. I would have thought that this number would be much higher because a lot of people try to rationalize their thinking when choosing to defraud insurance companies. I would suggest that more like two or three out of every five people actually attempt to defraud insurance companies for a variety of reasons, such as pressing debt or just general laziness.

In my opinion, the one point made in the article that was most effective in addressing fraud was to have lower thresholds for suspecting fraudulent claims. It makes sense to be wary of new customers, because trust has not been established yet, but this is no reason to keep loyal customers jumping through the same hoops every time they make a claim. The key is to strike a balance between offending a client and forcing them to take their business to a rival competitor or continuing to receive their business for the long term.

I personally understand why insurance companies have to be cautious when accepting a claim, but I dont think that suspicion should be held for every claim. One advantage for insurance companies implementing thresholds is that it would encourage brand loyalty due to the fact that it would take time to lower those thresholds once a customer switches companies. For this reason, I would prefer to find the best insurance company available and stick with it for the long term.