Fraud Deterrence & Prevention
A robust fraud risk framework that encompasses detection, investigation, deterrence and prevention is your most effective and sustainable defence against fraud threats.
The key is building dynamic fraud controls based on a thorough evaluation of fraud threats and their financial impact on your business.
The IBNR Difference:
To mitigate costs, we help insurers embed prevention and deterrence measures into fraud controls by:
- Influencing consumer behaviour through cost-effective fraud deterrence communication
- Deterring honest consumers from committing opportunistic fraud
- Designing fraud deterrence messages that correspond with the level of fraud threat
- Integrating prevention at the product development stage (product proofing)
- Assessing the inherent fraud risk of existing insurance products
- Bringing in fraud experts and other specialists or claims settlers
- Flagging risk enhancing factors
Your Benefits:
- Fast returns on fraud control investments
- Measurable financial outcomes with retrospective and predictive fraud metrics
- Robust, sustainable and financially optimised operational outcomes
- Workable solution anchored in best practices
- Dynamic fraud defence comprising control and mitigation measures based on fraud risks
- Fully auditable fraud organisation and governance structure
- Clear cost-benefit evaluation to help you make informed investments