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INSURANCE FRAUD PREVENTION CONFERENCE 2024

June 27 @ 8:00 am - June 28 @ 2:00 pm

In South Africa, it seems the arrest and incarceration of a former police officer, caught for opening up life insurance policies for her relatives, then having them murdered to cash in on their policies; has opened a can of worms that has led to more arrests of a literally similar nature.

The latest relates to the arrest of a woman suspected to have orchestrated the murder of her close relatives – including her husband and children – in insurance fraud related murders that the police have so far traced as far back as 2005.

But that is not the only story; the insurance industry has been grappling with a surge in fraudulent insurance claims of late. There was a medical practitioner whose attempt to claim for a disability payout, after claiming to have been infected with HIV while on the job, were unsuccessful after her story failed to satisfy assessors.

Another case involved a family that tried its luck in opening a policy for a disabled family member and failing to disclose that he had already been disabled when they opened the policy they were trying to cash in.

And as the insurance industry looks to recover from the effects of the Covid-19 pandemic, it looks like fraud cases will only get worse, across the region and continent. In the USA, insurance fraud is costing consumers around $308billion every year. According to statistics from the Association for Savings and Investment South Africa (Asisa), about R787.6-million worth of fraudulent cases were detected in South Africa in 2021.

This explosion of fraudulent behaviours has seen a corresponding rise in fraud detection technologies that end-users such as insurance companies, insurance intermediaries, agents and brokers, and other end-users have found really helpful. In 2023 alone, the fraud detection market has risen from $5.2 billion in 2022 to $6.4 billion, according to research company, ReportLinker.

Over the years, the Insurance Fraud Prevention Conference has become a must-attend event for stakeholders keen to understand developments in insurance fraud; from prevention and detection to collaboration with fellow stakeholders and peers in the industry.

The 2024 edition will be no different. The conference has gone from strength to strength by facilitating industry conversations on how best to address fraud across all classes of insurance, while promoting conversations with key external stakeholders.

The aim of the Insurance Fraud Prevention Conference is to increase the industry’s capacity to tackle fraud through learning from local and international experts and by facilitating cross-industry discussions on how to respond to this evolving issues.

The Insurance Fraud Prevention Conference brings together fraud prevention professionals at the forefront of detecting, investigating and deterring insurance fraud to discuss issues of fraud trends in auto, property, medical and other insurance sectors.

Also on the table will be analyses on how industry leaders are leveraging analytics and advanced technologies to adapt to the ever-changing landscape of fraudulent insurance claims.

Objectives: Why attend?

  • Hear about the industry’s approach to tackling insurance fraud and policing responses to the problem.
  • Discuss how the industry can protect vulnerable customers and do more to support innocent victims of insurance fraud.
  • Learn about the insurance fraud risks associated with professional enablers and how insurers can work with regulators to disrupt them.
  • Gain insight into how industry strategies against insurance fraud are evolving to stay ahead of sophisticated and mobile fraudsters.
  • Opportunity to network with fellow counter-fraud professionals from across the continent
  • Gain CPD hours by attending this CPD accredited event.
  • Understand the government approach to tackling insurance fraud and related crimes, including legislative and other measures to combat fraud in insurance.
  • Recognise the strategy for fighting insurance fraud at national and international level.

Target Audiences

  • Forensic Investigators /Managers
  • Heads of Fraud
  • Fraud Managers
  • Fraud Officers
  • Heads of Compliance/Managers & Officers
  • Fraud Analytics and Data Analytics
  • Insurance Claims Investigation,
  • Claims Processing
  • Claims Assessing
  • Head of Claims
  • Claims Managers
  • Claims Officers
  • Underwriters
  • Loss Adjusters and Repairers
  • Fraud and risk management departments
  • Heads of Financial Crime
  • Technology in claims
  • Head of Risk
  • Risk Managers
  • Internal Auditors &
  • Forensic Auditors
  • Chief Underwriter
  • Claims Examiner
  • Actuarial Manager
  • Product Development Manager
  • Customer Relationship Management
  • Customer Experience Management
  • Legal Advisor
  • Legal Managers
  • Head of Regulatory Affairs
  • Business Development Managers
  • CEOs
  • Managing Directors
  • Chief Financial Officers
  • Vice Presidents,
  • Chief Operations Officers
  • Finance Managers
  • Insurance regulators
  • Re Insurers
  • Adjusters
  • Claims Clerk
  • Insurance field inspector
  • Insurance Investigator
  • Claims Examiner
  • Claims Adjuster
  • Insurance Appraiser
  • Insurance Broker

Details

Start:
June 27 @ 8:00 am
End:
June 28 @ 2:00 pm
Event Category:

Organizer

Bussynet Advanced Trading
Phone
+27110747095
Email
info@bussynet.co.za
View Organizer Website

Venue

Radisson Blu Hotel, Sandton
Corner Rivonia Road & Daisy Street, Sandton
Johannesburg, Gauteng 2196 South Africa
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