Improve Fraud Investigations
Improve investigators’ possibilities to manage workloads, register all findings, recognize and connect the dots between files, take adequate measures and to report in a structural manner. Moreover, enhance the flexibility of customized case registration, by line of business and even on investigator level.
Special Investigations 2.0
Insurance fraud is a serious issue for the entire insurance industry. Fraudsters are getting smarter in their attempts to evade the insurer’s radar. In order to maintain a clear overview of red flagged claims, it is essential to have a central fraud (incident) registration within the organization. Furthermore, it is important for insurance companies to exchange claims and payout information on a structural basis. This can either be through a direct link between insurers or through a national register ran by an authority. Investigations at SIU enables an automated registration and exchange of information.
The solution is ideal for the structured recording of data concerning persons, companies, objects and goods. Moreover, the costs, editors and events related to the incident are easily recorded as well. To keep overview, a central registration of incidents within the organization is essential. Investigations at SIU enables the registration, management and scanning of incident cases in a flexible manner. In addition, the solution offers a unique cooperation between insurers as well as the authorities (when applicable). Investigations at SIU is developed by and for fraud managers.
Cooperation between insurers is the key to effective fraud fighting. Investigations at SIU enables insurance companies to discover related cases at other insurance companies that are doing the same investigation at the same time, or have done so in the past. Investigators can quickly assess whether someone else is investigating the same person(s), person(s) living on the same address, or with the same personal characteristics like telephone number, bank accounts, e-mail address.
The solution is certified. Investigations at SIU meets all requirements that are required by the Code of Conduct for the Processing of Personal Data by Financial Institutions and the Protocol in respect of the Incident Warning System for Financial Institutions.
SIU, Special Affairs or Compliance departments are different at every organization. Especially when it comes to nature, products, operations, processes and the working methods of investigators or claim handlers. Investigations at SIU allows insurance companies to customize entry fields and authorizations individually and independently, without the involvement of an IT department or FRISS. The high level of flexibility makes the solution suitable for managing all types of insurance fraud and incidents.
Investigations based on fraud suspicions can take a very long time, consume large amounts of correspondence and (digital) evidence, involve many people, or consist of multiple investigators. In most cases, information is not collected and captured at a central point. Numerous spreadsheets, email inboxes of multiple colleagues and separate department files containing digital documents often result in a fragmented base of information. Employee turnover can lead to loss of information. Non-authorized employees may incidentally get access to confidential information, which conflicts with the Protocol in respect of the Incident Warning System for Financial Institutions. With improved case registration and structured records of information, Investigations at SIU equips insurers with full control over all investigations.