Insurance Special Investigations Unit
Insurance fraud is the act of falsifying or exaggerating the facts of an accident to an insurance company to obtain payment that would not otherwise be made.
Insurance special investigations unit. Once a specific case is flagged for fraud kerr says that file gets sent to an insurance company s siu or a special investigations unit which might employ retired cops and other law. Special investigation units are a cornerstone of the insurance investigations process. If you are a special investigations unit investigator you are dealing with this every day. Policyholders may be informed by the claims adjuster that their claim has been transferred to the siu leaving the insured confused and perhaps apprehensive.
At least 25 percent of that is some flavor of fraud. Every insurance company has a special investigative unit to investigate suspicious insurance claims. Common types of insurance fraud are staged accidents exaggerated injuries and inflated medical bills. Conduct background investigations using the latest technology and data.
If you re an experienced insurance industry professional or former criminal investigator who d like to pursue a career with farmers special investigations unit. Services provided by the special investigations unit siu are available to policyholders as part of their policy with us. This practice exploded in southern california in the mid 1990s. Building the best special investigations unit in insurance investigations.
All insurance companies have a special investigative unit siu that handles elevated claims. Our special investigations unit is at the core of all zurich insurance fraud fighting initiatives and is continuously taking action to help protect our customers. Even so the insurance information institute and the international association of special investigative units estimate that an insurer saves 10 for every 1 that it spends fighting fraud. What is geico s special investigations unit.
The average caseload for an adjuster or claims representative might be 150 or 200 a day depending on the size of the company. While siu special investigative unit handles a lot of queries it does not mean that every insurance claim that goes to the. When you re dealing with potential fraudulent property and casualty claims sius are responsible for providing the evidence the insurance companies need to deny the claim. Depending on the insurance claim your case may be referred to siu for potential fraud.
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