Fraud Performance Gap Analysis
Fraud is distorting markets, damaging assets and sometimes even costing innocent lives.
As a member of the fraud risks control committee, you are concerned with strengthening your fraud protection processes and reinforcing the detection power of your special investigation unit and predictive fraud analytics. You understand the value of risk assessments and your fraud investigation teams, and stand behind their substantial contribution to your bottom line.
But how do your strategic fraud controls and operational fraud processes measure up against international benchmarks?
The IBNR Difference
Fraud Performance Gap Analysis
We help insurers:
- Identify gaps in your fraud risk detection, prevention and loss mitigation processes
- Gauge the effectiveness of your processes compared to international standards
- Arrive at workable solutions to bridge the gaps by making substantiated recommendations
- Understand the cost-benefits of implementation to inform investment decisions
IBNR is the first expert consulting firm to provide clients with relevant fraud performance indicators, from a strategic perspective down to the case management level. These help insurers steer their fraud investigators in the right direction, avoiding unnecessary delays so they can stay on top of fraud attacks.
International Benchmarking of Fraud Performance Indicators
| Rate/Coefficient |
|---|
| Detection Rate: suspicious claims |
| Conversion Rate: accepted fraud cases |
| Fraud Savings Under Mgt: Bottom Line Contribution |
Explore our project list and services on offer, and let’s talk.