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Insurance fraud more likely: Study; Older systems ill-equipped to spot fraud.(Agent/Broker Topics)
Byline: MICHAEL BRADFORD
An increase in insurance fraud is likely during today's tough economic times and agents and insurers with outdated computer systems are particularly vulnerable, an expert contends.
A survey of insurance buyers released earlier this year by Chicago-based Accenture showed that 66% of respondents believed that people are more likely to commit property/casualty insurance fraud during an economic downturn than in times of prosperity. Nearly half, 49%, said they believe people commit insurance fraud because they can get away with it.
"It means we're going to see an increase-given the economic state that we're in right now-in the …
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Source: HighBeam Research, Insurance fraud more likely: Study; Older systems ill-equipped to...
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