Overview
Insurance fraud remains one of the most significant challenges facing insurers worldwide. Fraudulent activities increase claims costs, contribute to higher insurance premiums, undermine insurer profitability, and affect the overall stability of insurance markets. As a result, insurers, regulators, law enforcement agencies, and industry stakeholders continue to invest significant resources in fraud detection, prevention, and awareness initiatives.
This programme provides a practical introduction to insurance fraud, the insurance products commonly affected by fraudulent activities, and the measures used to identify, prevent, and combat fraud. Participants will explore common fraud schemes involving automobile insurance, workers’ compensation insurance, and other property and casualty insurance products, while developing an appreciation of the role fraud awareness plays in protecting insurers, policyholders, and the public.
Throughout the programme, you will gain practical insight into fraud indicators, fraud prevention measures, investigative considerations, and industry efforts to combat insurance fraud.
Learning Outcomes
On successful completion of this programme, you will be able to:
- Explain the nature, impact, and significance of insurance fraud within the insurance industry;
- Describe the major property and casualty insurance products commonly affected by fraudulent activities;
- Identify common automobile insurance fraud schemes and the indicators associated with potential fraudulent activity;
- Explain the characteristics of workers’ compensation fraud and other forms of property and casualty insurance fraud;
- Recognise common fraud indicators and warning signs that may require further review or investigation;
- Describe the measures, tools, and industry initiatives used to prevent and combat insurance fraud; and
- Explain the legal and investigative considerations associated with fraud detection and fraud prevention efforts.
