In an era of increasingly sophisticated financial crime, life insurance remains a high-value target for fraudsters. This workshop provides a comprehensive foundation in identifying, preventing, and managing fraud throughout the policy lifecycle—from initial application to the final claim payment.
Participants will explore the “Fraud Triangle” (Pressure, Opportunity, and Rationalization) and apply it to real-world life insurance scenarios. By the end of this session, attendees will be equipped with the “red flag” recognition skills and investigative techniques necessary to protect their organizations and legitimate policyholders from the rising cost of fraud.
At the end of this session, participants will:
- Define the legal and regulatory definition of life insurance fraud and its economic impact on the industry.
- Identify common fraud typologies, including application fraud, faked deaths, and "ghost broking."
- Recognize red flags across the customer journey, from non-insurable interest to suspicious medical documentation.
- Apply a risk-based approach to investigating questionable claims while maintaining a positive customer experience for legitimate claimants.
- Execute proper reporting and whistleblowing procedures in alignment with internal policies and local regulations.
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