Services Insurance Claims Investigation What is an Insurance Claims Investigation? Insurance companies often conduct claims investigations to evaluate the legitimacy of a claim. The investigation process helps the claims adjuster make an educated decision about how to proceed with a claim. Insurance claims investigations are used to combat the prevalence of false or inflated claims. An illegitimate claim is unjustifiable or inaccurate, and by identifying it early you avoid paying potentially significant costs to a fraudster. Insurance claims investigations rely on evidence, interviews and records to conclude whether a claim is legitimate or illegitimate. There are several types of insurance investigations depending on the claim being made. We have a dedicated team of investigators who are well versed with the kinds of frauds under Personal Accident Claims. We verify each and every aspect of the claim with their vigil eyes and ascertain the authenticity of the claims.We continuously strive to help you to provide a consistently high standard of service and understand the extensive enquirers related to the Insurance sector. We discuss all the issues in complete confidential manner which is also included non disclosure agreement where necessary. Type of Insurance Claim- Motor Vehicle Insurance Claims Verification of claims for the cases lodged in Motor Accident Claims Tribunal (MACT)Theft claims Own Damage Claims Personal Accident ClaimPay & Recovery MattersOther miscellaneous accident related claims Medical insurance claim Cashless investigationSpot Cashless investigationMedical reimbursement Life Insurance Pre & Post check of addresses and other credentials before issuance of fresh policies. Parameters for Insurance Claims Investigation? Key Validations: Complete Case details & insured details Source & Mode of Verification Site Visit by Field Representatives TAT (Turn-Around Time) 10 to 15 Working days Address Verification Address verification ensures that the address data you collect is accurate, up to date, and standardized. It is done by sending people to physical locations to check out a candidate’s address. Having confidence in your data is important for all business plans and initiatives. Ninety-seven percent of organizations today use data to power businesses opportunities, and just as many see it as an essential resource to better service their customers and increase revenue. Address verification allows you to reduce costs, put a stop to wasted outbound mailings, and prevent inaccurate marketing activity to boost customer satisfaction. Parameters for Address Check ? Key Validations: Overall Address, Landmark, Nearby Police Station or Post Office, Address Proof, Period of Stay, Residential Status, Type of Residence, Type of Area, Person Met & Relationship, Neighbours Name, Neighbours Address, Neighbours Contact Number Source & Mode of Verification Site Visit by Field Representatives TAT (Turn-Around Time) 3 to 07 Working days Criminal Record Check It is important to check criminal records of individuals who own or who work with a third-party vendor. Discovering beforehand about the owner being involved in theft will save the hassle and worry about the same thing happening again. Criminal verification entails checking a person’s criminal history to assess his or her trustworthiness. This is a massive task, and requires lot of time, and in depth analysis of the nature of criminal records. What is Criminal Verification? The police records are available at different levels – national (National Crime Records Bureau), state, city/town/district, and local police station. While the records are computerized at NCRB and most of the state levels, they may not be available in electronic form at most of the district and local police station levels. The Home Ministry has embarked on Crime and Criminal Tracking Network and Systems (CCTNS) project to link all the police stations and offices across the country and the full-integrated system is expected to be available in 2012. It is not known to what extent the information will be made available for public access. Therefore, in the interim, the criminal records have to be accessed at the state, district, or police station level by physically visiting the specific office and requesting the criminal background verification. Parameters for Police Check ? Key Validations: Criminal Cases check through Police Database from local Police Station. Source & Mode of Verification Local Police Station Visit by Field Representatives TAT (Turn-Around Time) 2 to 05 Working days Court records Check Why court records should be used to check an individual’s background court records are provided for informational purposes only — and may be subject to error or omission. Users of these court systems therefore have the responsibility to verify the accuracy, currency and completeness of the information retrieved from those systems. For specific information related to a particular case, you must visit or contact the court in which the action was filed. Users of the system have the responsibility to verify the accuracy, currency and completeness of the information. some records are sealed, others are in paper-accessible files only, others are so old they are only available in the court’s archive. As with attempts to use criminal court records, the use of civil court records against a person may be prohibited by law. Court record check Parameters ? Criminal Cases & Civil case records (Original Suite , Civil Suit & Appeals ) from District court / Sessions Court/High Court & Supreme Court Source & Mode District & Session Court Database Physical/ High Court & District Court online database TAT (Turn-Around Time) 2 to 05 Working days Document (ID) Verification What is document verification? Document verification is a process of verifying the authenticity of a document. Officially issued documents, such as ID, driving licence, bank statement or other state/federal documents are usually being verified. The process checks the validity of personal data, including: name, age, address, as well as document features like: stamps, watermarks, fonts, carrier materials and others. In the traditional setup, customers were asked to be physically present to conduct this verification. However, with the arrival of digital banking, this is changing quickly. Customers are no longer willing to be physically present. Of course, with the smartphones handy, it is no longer a challenge. The customer simply has to upload a photograph along with a government-issued ID. Better still, one can upload a video as proof of life and self. Today’s technological advancements even allow for achieving this in real time. However, it brings another problem to the surface. The need for a human being on the other side to verify the identity. Parameters for Address Check ? Key Validations: ID soft copy , ID number, Candidate details Source & Mode of Verification Online & Site Visit by Field Representatives TAT (Turn-Around Time) 01 to 02 Working days Asset verification Asset verification is the process of making valid the information on assets, for example for property, plant and equipment; confirming the existence, location and condition of the asset. Knowing what assets you have, where they are located, when they were purchased, if they are still in use, etc. is critical to any organization. Keeping a track and managing the fixed assets is critical and a compulsory periodic process that should be carried out in the organization. Maintaining a fixed asset register helps simplify the process. A fixed asset register typically records the following data: Net book value,Current and accumulated depreciation rate,Location of the asset,Custodian rate,Cost of the asset,Asset use life or depreciation rate. Parameters for Asset Check ? Key Validations: Asset details, Overall Address, Landmark, Address Proof, Period of Stay, Residential Status, Type of Residence, Type of Area. Source & Mode of Verification Site Visit by Field Representatives TAT (Turn-Around Time) 5 to 10 Working days