Welcome to the INFORM Blog! Our staff utilizes this platform to share their knowledge and monitor trends across various industries. This thought leadership blog is not only designed to entertain, but also provide you with insights to help you make intelligent business decisions.
We are told that today we are living the age of Big Data, where information is abundant and smart technologies help us processing them. If there is an industry that can benefit from this golden age, it will be the insurance sector…
Insurance claims consume nearly 80% of insurance company‘s premiums in the form of payments, fraudulent losses, and processing costs. Therefore, insurance companies are justifiably concerned about optimizing the claims process but are often unsure about the most effective method to accomplish this.
Recently two international operating banks have faced severe malware attacks through their internal SWIFT messaging system. Attacks though malicious software is nothing new but the way criminals were able to gain access to the SWIFT network raises serious questions about cyber-security. We have asked INFORM’s cyber security expert Wiebe Fokma on his take on implementing measures to strengthen the systems' security.
Why Do Fraudsters Commit Fraud Over Other Types of Crime? This second part of the article (see PART 1 - Feb 2016) we talk about the Fraud Triangle, developed by Columbia University. The Fraud Triangle is a great visual depiction of how fraud occurs. This concept further supports the contention that reducing opportunity should be the key element of counter fraud efforts.
A common theme appearing all across the country is the tendency for hospitals to bill a trauma activation fee, ranging from $6,000 to $30,000, for all patients whose injuries arise from a motor vehicle accident, no matter how minor the accident or injuries. These charges appear even when the patient is triaged by a nurse, examined by one physician and discharged to home after two or three hours.