Future of Insurance Fraud - Part 1 - Impact of Fraud, Demographics & Attitude
From Bernie Madoff to Volkswagen's fake emissions tests, fraud has become prevalent in our society. We will explore how insurance fraud is the crime YOU pay for. We cannot fight insurance fraud without understanding the motives people have to commit fraud and how their attitudes toward fraud may drive their willingness to commit fraudulent acts. People of all ages will commit insurance fraud, but for differing reasons. With 50,000 Americans turning age 65 every day from now until 2050 the "baby boomers" face challenges which may cause even historically honest policyholders to commit fraud. As millennials become more a part of the workforce, we are learning insurance fraud is one of the things they are also more willing to accept…and commit. We will delve into the differing motives and attitudes these generations have about insurance fraud and then wrap-up our first part with a roundtable discussion of issues and attitudes.