Insurance companies sell policies to people and businesses that want protection from monetary losses. Because of the nature of insurance, fraud is a common problem. People and businesses sometimes submit fraudulent insurance claims in the hopes of monetary gain. Because of this, there are many insurance fraud jobs available in the industry.
An insurance career is a good way for individuals to gain experience in law enforcement. Many start as an insurance adjuster or an insurance inspector. Insurance fraud jobs offer valuable experience in the areas of investigations and case documentation that will serve prospective law enforcement workers well.
Most insurance fraud jobs are through property and casualty insurance companies. Someone seeking a career in this area may also become an insurance adjuster for a third-party company as an independent adjuster. Independent adjusters work for insurance companies on a case-by-case basis. As adjusters, these individuals investigate claims, document evidence, report findings, and make important decisions regarding the direction of investigations. Adjusters may also negotiate and settle claims when appropriate.
Lawyers can also hold insurance fraud jobs in Special Investigative Units. These units are designed to carefully investigate claims to ensure evidence is documented in a way that will lead to a clear fraud conviction. When fraud is less obvious, these professionals can be effective in negotiating lower settlements.
Surveillance is another area where there are many insurance fraud jobs. Investigators are paid to watch and record claimants as they go about their daily routines. Bodily injury claims are often disproved through the use of video surveillance.
In some cases, it is the insurance appraiser that uncovers fraud. He may notice damage inconsistent with a reported auto accident claim, for example. If the report claims there was a low-speed rear end collision, and the appraiser finds damage claimed to the side of the vehicle, eyebrows will be raised. The appraiser will report the findings to the Special Investigative Unit, which will look at the case and decide if it is worth pursuing a fraud conviction.
Insurance investigators and adjusters must also be careful to follow the consumer protection laws of their country and locality when investigating claims. They walk a fine line of uncovering the facts, documenting fraud, and still respecting the rights of the individual. If an investigator fails to follow these regulations, the insurance company may end up paying not only the claim, but also penalties and additional damages ordered by a court.
