Reducing Fraudulent Workers Compensation Insurance Claims
Workers compensation provides workers injured on the job with a degree of financial support and payment for medical bills. Workers compensation will also pay benefits to surviving family members if a worker is killed on the job.
Workers compensation is a valuable employee benefit, but it has been plagued by a large number of fraudulent workers compensation insurance claims. In some extreme cases, businesses have shut down or been seriously crippled from workers compensation claims. Fraudulent claims are estimated to cost Americans $5 billion dollars a year.
Advanced computer software using predictive models can screen out suspicious claims and reduce the amount of money lost due to fraud. Credit card companies have been using similar technology for years in order to reduce credit card fraud. More insurance companies are using technology to save you money. Workers compensation is not the only insurance a businessowner needs. To find quotes for a business insurance policy that can cover damage to your structure, liability and other issues, use the online form on this website. You'll receive quotes from multiple business insurance companies so you can compare and find the best rate.
Sources
- Fighting Workers' Comp Fraud: Predictive analytics can help detect abuse, Kevin Lisle. Retrieved June 4, 2008, from http://www.claimsmag.com/cms/Claims/Monthly%20Issues/Issues/2006/09/Features/FEATURE%20Fighting%20Workers%20Comp?origin=channels-Workers%20Compensation
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