Psychological Drivers Of Insurance Fraud

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Psychological Drivers Of Insurance Fraud

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Author : Carolin Hutterer
language : en
Publisher: GRIN Verlag
Release Date : 2018-04-19

Psychological Drivers Of Insurance Fraud written by Carolin Hutterer and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-19 with Business & Economics categories.

Master's Thesis from the year 2017 in the subject Business economics - Miscellaneous, grade: 1,3, LMU Munich (Munich School for Management), course: Executive Master of Insurance, language: English, abstract: The following master thesis covers the psychological drivers of insurance fraud. In this scientific paper it shall be explained how insurance fraudsters try to vindicate their behavior and which forms of reasoning are therefor used. Insurance fraud itself is defined as a fraud to the detriment of an insurance company by the policy holder or a third party with the aim of obtaining unjustified coverage, demanding a false payment of damages on the merits or to the extent of paying a lower insurance premium. The fraudulent behavior starts with consciously inaccurate information during application and extends up to manipulation in the context of loss. The legal consequences of insurance fraud are the same as of any other fraudulent behavior, like a fine or a short period of imprisonment. Furthermore the insurance company can claim indemnity demands or recourse or the insured can lose his coverage. It is reckoned that the annual losses of German insurance sector caused by insurance fraud are four billion Euro and that especially in the line of automobile insurance approximately every tenth notification of claim bases on fraudulent background. About 90 percent of insurance brokers report that they already were in contact with fraudulent clients and a common line in the insurance branch states that each tenth notification of claim contains fraud and that ten percent of payments are based on unjustified or fraudulent declarations. In social context insurance fraud is a damage for all insured clients. A higher rate of fraudulent behavior leads to more payments and in conclusion to higher premiums. The increased niveau of premiums furthermore reduces the public welfare of the insured and often leads to smaller profits for the insurance companies. Thereby many small deceptions have a high impact on the insurance companies, because costs of prosecution of these smaller delicts bear no proportion to the outcome. Basically insurance fraud is not tolerated in society just as any other form of fraud. But on closer inspection and having a regard to the listed numbers concerning insurance fraud it becomes clear, that there exist different standards. In the Europe-wide European social survey 2010 87 percent of respondents declared that insurance fraud is wrong or absolutely wrong.

Psychology Of Fraud

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Author : J. Michael Skiba, Ph.d.
language : en
Publisher:
Release Date : 2017-09-15

Psychology Of Fraud written by J. Michael Skiba, Ph.d. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-15 with Business & Economics categories.

Estimates reveal that insurance fraud costs $80 billion per year--and that's just in the United States of America. That translates into almost $1,000 annually per household. Weak preventative controls and paltry punishments make insurance fraud particularly attractive to criminals, who often use it as their preferred vehicle for funding organized crime and terrorist activities. J. Michael Skiba examines why insurance fraud is seen as a low-risk, high-reward offense and the toll it takes on society. He also highlights how criminological theory can be used in a counter fraud setting; how pressure, opportunity, and rationalization form the basis of insurance fraud; and how to identify where you're most vulnerable. By learning how the mind of a fraudster works, you'll be equipped to fix problem areas. More importantly, you'll have the insights you need to develop a comprehensive anti-fraud program. Reduce the opportunity to commit insurance fraud, mitigate losses, boost profitability, and save honest customers money by drilling down into the Psychology of Fraud.

Hc 285 Driving Premiums Down Fraud And The Cost Of Motor Insurance

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Author : Great Britain: Parliament: House of Commons: Transport Committee
language : en
Publisher: The Stationery Office
Release Date : 2014-07-04

Hc 285 Driving Premiums Down Fraud And The Cost Of Motor Insurance written by Great Britain: Parliament: House of Commons: Transport Committee and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-04 with Business & Economics categories.

This report reviews the Government's plans to tackle fraudulent and exaggerated motor insurance claims, particularly for whiplash injuries. It is the Transport Committee's fourth report on the cost of motor insurance and, while premiums are now falling, aspects of the market remain dysfunctional and have encouraged criminality to take root. Further action is still required to tackle fraud whilst protecting genuine claimants. The Government must prohibit insurers from settling whiplash claims before the claimant has undergone a medical examination. On issues of court procedure and medical panels the Committee endorses the Government's intention to require courts to strike out 'dishonest' insurance claims (e.g. those involving gross exaggeration), but cautions against hasty legislation due to the complex legal implications. The report calls for data sharing about potentially fraudulent claims between insurers and claimant solicitors to be made compulsory rather than voluntary (as currently proposed). The Government should oversee funding arrangements for the police Insurance Fraud Enforcement Department, to make sure that this unit, currently funded directly by the insurance industry, has a long-term future. Government proposals for independent medical assessments are welcomed but more work is required on implementation. The Government should press the Solicitors Regulation Authority to stop some solicitors from playing the system to maximise their income by commissioning unnecessary psychological evaluations.

The Psychology Of Fraud

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Author : Grace M. Duffield
language : en
Publisher:
Release Date : 2001

The Psychology Of Fraud written by Grace M. Duffield and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Fraud categories.

Fraud, like other crime, can best be explained by three factors: a supply of motivated offenders, the availability of suitable targets and the absence of capable guardians-control systems or someone "to mind the store", so to speak (Cohen & Felson 1979).In this, the first of two papers, the authors focus on motivation and other psychological aspects of fraud. They identify a number of psychological correlates of fraud offending, but note that these are by no means unique to fraud, and do not necessarily differentiate fraudsters from law-abiding citizens. The other two factors, opportunities and guardianship, provide more scope for fraud control and are addressed in a companion paper on "red flags", or situational indicia, of fraud risk.

Automobile Insurance Road Safety New Drivers Risks Insurance Fraud And Regulation

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Author : Georges Dionne
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Automobile Insurance Road Safety New Drivers Risks Insurance Fraud And Regulation written by Georges Dionne and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

Motor vehicle accidents are still a leading cause of death, even if the trend has somewhat declined over the past 20 years. Indeed, motor vehicle accidents are a significant cause of death in comparison with air and space transport accidents, homicides and even HIV infections, causes which are more often highlighted in the media. As shown in this book, motor vehicle accidents are particularly damaging to very young drivers. The assessment of driving risks is a common concern for road transportation safety and the automobile insurance industry. In both cases, there is an awareness of the great losses resulting from the deaths, injuries and property damage caused by traffic accidents. Research is essential to counteract this public health threat, to assess the success or failure of countermeasures, and to solve the problems it generates in the insurance industry. This book is for people concerned about road crashes (prevention and compensation) and about the insurance problems they pose - namely private and public institutional authorities, consultants, administrators, practitioners, and researchers interested in sharing the authors' experience in this domain. The book presents original contributions related to motor vehicle insurance and road safety. All papers have been evaluated by external referees. Four subjects are covered: 1) Automobile Insurance Pricing, Risks and Asymmetric Information; 2) Insurance Fraud; 3) Young Drivers: Licensing Policies, Evaluation and Risks; and 4) Road Insurance Regulation.

A B C S Of Behavioral Forensics

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Author : Sridhar Ramamoorti
language : en
Publisher: John Wiley & Sons
Release Date : 2013-09-23

A B C S Of Behavioral Forensics written by Sridhar Ramamoorti and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-23 with Business & Economics categories.

Get practical insights on the psychology of white-collar criminals—and how to outsmart them Understand how the psychologies of fraudsters and their victims interact as well as what makes auditors/investigators/regulators let down their guard. Learn about the psychology of fraud victims, including boards of directors and senior management, and what makes them want to believe fraudsters, and therefore making them particularly vulnerable to deception. Just as IT experts gave us computer forensics, we now have a uniquely qualified team immersed in psychology, sociology, psychiatry as well as accounting and auditing, introducing the emerging field of behavioral forensics to address the phenomenon of fraud. Ever wonder what makes a white-collar criminal tick? Why does she or he do what they do? For the first time ever, see the mind of the fraudster laid bare, including their sometimes twisted rationalizations; think like a crook to catch a crook! The A.B.C.'s of Behavioral Forensics takes you there, with expert advice from a diverse but highly specialized authoring team of professionals (three out of the four are Certified Fraud Examiners): a former accounting firm partner who has a PhD in psychology, a former FBI special agent who has been with investigative practices of two of the Big Four firms, an industrial psychiatrist who has worked closely with the C-level suite of large and small companies, and an accounting professor who has interviewed numerous convicted felons. Along with a fascinating exploration of what makes people fall for the common and not-so-common swindles, the book provides a sweeping characterization of the ecology of fraud using The A.B.C.'s of Behavioral Forensics paradigm: the bad Apple (rogue executive), the bad Bushel (groups that collude and behave like gangs), and the bad Crop (representing organization-wide or even societally-sanctioned cultures that are toxic and corrosive). The book will make you take a longer look when hiring new employees and offers a deeper more complex understanding of what happens in organizations and in their people. The A.B.C. model will also help those inside and outside organizations inoculate against fraud and make you reflect on instilling the core values of your organization among your people and create a culture of excellence and integrity that acts as a prophylactic against fraud. Ultimately, you will discover that, used wisely, behavioral methods trump solely economic incentives. With business fraud on the rise globally, The A.B.C.'s of Behavioral Forensics is the must-have book for investigators, auditors, the C-suite and risk management professionals, the boards of directors, regulators, and HR professionals. Examines the psychology of fraud in a practical way, relating it to aspects of fraud prevention, deterrence, detection, and remediation Helps you understand that trust violation—the essence of fraud—is a betrayal of behavioral assumptions about "trusted" people Explains how good people go bad and how otherwise honest people cross the line Underscores the importance of creating a culture of excellence and integrity that inoculates an organization from fraud risk (i.e., honest behavior pays, while dishonesty is frowned upon) Provides key takeaways on what to look for when hiring new employees and in your current employees, as well as creating and maintaining a culture of control consciousness Includes narrative accounts of interviews with convicted white-collar criminals, as well as interpretive insights and analysis of their rationalizations Furnishes ideas about how to enhance professional skepticism, how to resist fraudsters, how to see through their schemes, how to infuse internal controls with the people/behavioral element, and make them more effective in addressing behavioral/integrity risks Provides a solid foundation for training programs across the fraud risk management life cycle all the way from the discovery of fraud to its investigation as well as remediation (so the same fraud doesn't happen again) Enables auditors/investigators to engage in self-reflection and avoid cognitive and emotional biases and traps that lead to professional judgment errors (e.g., overconfidence, confirmation, self-deception, groupthink, halo effect, availability, speed-accuracy trade-off, etc.) Ever since the accounting scandals surrounding Enron and WorldCom surfaced, leading to the passage of the Sarbanes Oxley Act of 2002, as well as the continuing fall out from the Wall Street financial crisis precipitating the Dodd-Frank Act of 2010, fraud has been a leading concern for executives globally. If you thought you knew everything there was to know about financial fraud, think again. Get the real scoop with The A.B.C.'s of Behavioral Forensics.

The Psychodynamics And Psychology Of Gambling

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Author : Mikal Aasved
language : en
Publisher: Charles C Thomas Publisher
Release Date : 2002-01-01

The Psychodynamics And Psychology Of Gambling written by Mikal Aasved and has been published by Charles C Thomas Publisher this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-01-01 with Compulsive gambling categories.

The Psychodynamics and Psychology of Gambling is the first volume in the four-volume The Gambling Theory and Research Series. Author Mikal Aasved felt a need to fill what he perceived to be a lack of background sources or reviews of literature pertaining to gambling theory and research. This series will present major findings of leading researchers as they study the causes and effects of gambling, both recreational and excessive. This first entry in the series reviews the most influential psychodynamic and psychological theories that explain why people gamble. Psychoanalytical theorists discussed include Freud, Von Hattingberg, Fenichel, Bergler, Simmel, Greenson, Stekel, and others. Aasved includes sections on behavioral (learning or reinforcement theory) psychological approaches to gambling with discussion of Skinner's ideas and research findings as well as Pavlov's principles. This book begins with the question 'Why do people gamble?' and offers many theories proposed by clinicians, laboratory and field researchers, and participants as they seek to explain the motivation behind gambling. The differences between gambling as entertainment and gambling compulsion is a focus of much research. Aasved addresses ideas set forth as to why some people are able to control their gambling and others cannot, even when it means sacrificing their jobs, family, and material possessions. This text provides a comprehensive background into theories of addiction research as studied by leaders in the field.

Contemporary Clinical Psychology

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Author : Thomas G. Plante
language : en
Publisher: John Wiley & Sons
Release Date : 2020-11-24

Contemporary Clinical Psychology written by Thomas G. Plante and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-24 with Psychology categories.

Enjoy a comprehensive and insightful perspective on advanced and foundational topics in clinical psychology with this newly updated resource The newly revised 4th Edition of Contemporary Clinical Psychology delivers a comprehensive and engaging view of the science and practice of clinical psychology. From a variety of different perspectives and in numerous settings, the book presents a realistic survey of the field of clinical psychology, including its history, employment opportunities, significant theoretical underpinnings, practice instructions, and guidelines for how to conduct and interpret research in this rapidly evolving area. Widely recognized author Thomas Plante includes information for specific topics, like the major theoretical models of clinical psychology, as well as general knowledge in this new edition that includes supplemental content like videos and interactive material that will increase student engagement and retention of the subject matter. Alongside chapters on topics including how to conduct contemporary psychological assessments, how to implement psychotherapeutic interventions, and descriptions of consultative, teaching, and administrative roles, Contemporary Clinical Psychology, 4th Edition features: A fully integrative, practical, biopsychosocial approach to upper-level clinical psychology subject matter Brand new and updated student and instructor resources directly integrated into the e-text Supplemental resources like video clips, interactive links, test banks, PowerPoint slides, and an Instructor's Manual Coverage of the Diagnostic and Statistical Manual of Mental Disorders 5, the most recent testing instruments, and the latest research in evidence-based treatment practices How to conduct research in an era of open access and other changes in research publication Perfect for graduate and advanced undergraduate students in introduction to clinical psychology courses in both university psychology and counseling departments, Contemporary Clinical Psychology, 4th Edition also belongs on the bookshelves of students in free-standing schools of psychology offering PsyD and MA degrees.

Handbook Of Forensic Psychology

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Author : Y.K. Nagle, K. Srivastava & A. Gupta
language : en
Publisher: AuthorHouse
Release Date : 2014-01-15

Handbook Of Forensic Psychology written by Y.K. Nagle, K. Srivastava & A. Gupta and has been published by AuthorHouse this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-15 with Psychology categories.

The handbook is about the theoretical foundations, researches in forensic psychology, practices and applications in forensic settings. This handbook is divided into three parts first part of the book addresses the theoretical foundations of forensic psychology, comprising behavioural biometrics, forensic assessment, criminal behavior and overview of psychopathy. The second part of the book attempts to cover neuroscience techniques for the forensic examination of suspects, and the third part of the book addresses the issues related to forensic practices and their application.

Financial Crimes

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Author : Maximillian Edelbacher
language : en
Publisher: CRC Press
Release Date : 2012-06-04

Financial Crimes written by Maximillian Edelbacher and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-06-04 with Business & Economics categories.

Financial market reform has focused chiefly on the threats to stability arising from the risky, uncontrolled activity of the leaders of financial institutions. Nevertheless, organized crime, white-collar crime, and corruption have a huge impact on financial systems worldwide and must also be confronted if true reform is to be achieved. A collection of articles written by experts in their fields of study, Financial Crimes: A Threat to Global Security spotlights the importance of addressing the problem of illegal financial activity as part of a greater comprehensive plan for reforming the financial sector. Drawn from the 23rd Annual Meeting of the Academic Council on the United Nations System (ACUNS) held in Vienna, the book explores the major themes discussed at this elite symposium. In the first section, the contributors examine changing concepts in security over the course of history and across nations. They discuss how an event in Austria led to the implementation of a new security philosophy that is now followed by the majority of the European Union. The book examines the diverse models of preventing security threats that have grown from that idea as well as the gradual expansion of the role of the security council of the United Nations. The next section analyzes the present state of security worldwide and examines the wide array of criminal activity that plagues the financial sector. Expert contributors reveal methods to identify certain types of behavior and criminals as well as efforts to combat illegal activity—including the role of the media. The final section investigates alternative approaches to preventing another worldwide financial disaster through investigative reporting, human factors analysis, legislative initiatives, and other methods. Filled with insight from international experts, the book highlights both the warning signs to illegal activity as well as the most effective methods for combating the invidious corruption that, if unchecked, puts all nations at risk. Maximilian Edelbacher will be appearing at three upcoming events: June 28, 2012: Roundtable in the House of the European Union in Vienna on the topic "Financial Crimes: A Threat to European Security?" October 8, 2012: Roundtable in Joannneum, Austria on the topic "Financial Crimes: A Threat to Global Security" October 9, 2012: Book presentation at the Hans Gross Museum in Graz, Austria