Recent studies have shown that insurers lose approximately 10 percent of their total revenue to premium leakage and underwriting fraud. This particular type of fraud affects most lines of business, especially commercial auto insurance, workers’ compensation and property insurance.
Forward-thinking insurers are developing new strategies and employing new tools to not only detect underwriting fraud but also to prevent it.
In this white paper, you’ll discover:
- Several different types of underwriting fraud.
- Why insurers need a better way to address premium leakage and fraud across the policy life cycle.
- How insurers are implementing technology and analytics to combat this growing issue.