Fraud Identification and Prevention Strategies for Insurance Industry in Singapore

Program Date

7 Jun 11 Jun 2021

Program Location

Singapore

Program Venue

Furama Riverfront

Registration Closing Date

30 Apr 2021

Program Overview

Insurance Fraud is Constantly Evolving and highly complex phenomena that accounts for more that hundred billion dollars per year imposing heavy burden on insurance companies thus threatening their competitiveness and prospective viability. Insurance Fraud affects consumers to the same extent and proves to be detrimental for the economy and the society as a whole.

Due to its progressive nature, it is getting harder to control, manage and prevent the insurance fraud. This comprehensive training course has been designed to address the aforementioned issue and support its attendees with functional techniques and tools essential for mitigating and preventing fraud within the organization. The program provides an all-inclusive understanding of staged losses, fake thefts, paper property, arson for profit, false documentation, and other efforts made to defraud an insurer.  It puts the equal emphasizes on necessary actions to be taken to prove fraud as a defense to an insurance claim.


Target Audience

This program is the best suite for:

  • Insurer Claims Executives & Representatives
  • Insurance agents and brokers
  • Fraud Examiners
  • Operational Risk Managers
  • Insurance coverage & claims lawyers
  • State or local police insurance fraud investigators
  • Prosecutors.

Program Objectives

Upon the successful completion of this intensive training course, the participants will be able to:

  • Identify the nature and types of Insurance Fraud
  • Implement Fraud Prevention Strategies in the Organization
  • Measure and Manage Fraud risks
  • Address the legal proceedings for suspected fraudsters.

Program Contents

  • Defining the Insurance Fraud, Its types and Consequences
  • Governance & Ethics in Insurance
  • Workplace Ethics and Moral Hazard in Insurance
  • The statutory weapons available to reduce and mitigate fraud
  • Measures against different types of Insurance Fraud: Life Insurance, Health Insurance, Property Insurance, Auto Insurance
  • Reporting Insurance Fraud
  • Legal Proceedings against Fraud
  • Anti-Fraud Strategies and Measures
  • Broker’s role, Broker Fraud Risks and Response to Fraud
  • Implementing and Using Anti-Fraud Measures: Software Alerts, In-House Anti-Fraud Units, Cognitive Interviewing, Lie Detectors, Aerial Photography and Mapping, Claims Information Sharing Databases.
  • Conducting Fraud Investigation
  • Tasks of Fraud Investigator
  • Searching for Fraudulent Claims and evidence
  • Reviewing Standards and Setting Control Mechanisms
  • Criminal Investigations & Investigative Techniques.

Program Methodology

Fraud Identification and Prevention Strategies for Insurance Industry in Singapore is 5 days interactive program that uses a mixture of presentations, discussions, case studies, videos, role-plays and interactive exercises to transform participants’ knowledge into hands-on practice.  Every Session will be finalized by acquiring participant feedback in order to ensure the maximum comprehension of the material covered.  Provided suggestions will be considered for the coming days aiming to maximize the satisfaction of each and every delegate.

Program Fee
US$3650

Payment Options

Fee Covers

  • Visa Assistance (Complimentary)

  • Participant Assessment

  • Airport Pickup

  • Accommodation

  • Wi-Fi

  • Welcome Dinner

  • Breakfast

  • Workshop Kit

  • Program Materials

  • Program Experts

  • Practical Activities

  • Lunch

  • Refreshments

  • Interactive workshop

  • City Map & Direction

  • Risalat T-shirt

  • Field Visit

  • Program Certificate

  • Entertaining Tour

  • Program Report

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