by Justin Lankes
20. May 2010 00:59
One of the biggest obstacles we have to overcome is proving Return on Investment for our products in the SIU. The reason it's difficult to have exact numbers is because the exact financial impact of the SIU itself is sometimes in dispute. I've read several studies and talked at length with clients about how SIUs prove value and ROI to the company as a whole and the consensus is there is there is no consensus! Everyone knows there is some and often great benefits to a carrier having a department devoted to investigating and thus deterring fraud, but the specific financial impact is hard to discern.
Attached is a recent article by Robert Horst and Mark Rosenberg: The Business Justification for Special Investigation Units
"While these units may often be expensive, the proven effectiveness of SIUs in uncovering incidents of fraud and deterring future incidents of fraud ensures that they are one aspect of an insurance company's operations that is almost certain to pay for itself over time."
The Business Justification for Special Investigation Units.docx (16.14 kb)
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