Activities investigations and factual Investigations are two types of insurance investigation, specifically aimed at assisting insurance companies, banks, self-insurers and associated organisations to effectively determine the legitimacy of a claim.
Australia’s insurance industry loses in excess of $2.2 billion, every year, to false claims. As a direct result, policy premiums rise to accommodate the loss, which in turn leaves some with no choice other to seek insurance elsewhere, or cancel altogether.
By extension, with Australia boasting some of the highest rates of successful false claims in the world, there comes a greater need than ever for professional insurance investigations and the expert investigators behind them.
Precise Investigation has worked alongside hundreds of insurers across Australia, to provide them with the information they need to effectively determine whether a claimant has lied about the nature of their claim or whether it’s been made legitimately.
Australia’s incredibly turbulent economic crime environment has led to a drastic increase in insurance payouts over the last decade, yet little has been done, on a national scale, to reduce the risks insurers face when dealing with fraudulent claims.
As such, we have developed a series of unique, tailor-made activities and factual investigation services that any insurer can employ to lower the risks in their portfolios.
Both our activities investigation and factual investigation services are aimed at providing insurance companies with a reliable and reputable means of gaining the information they need, whilst treating the claimants with the respect and courtesy they deserve – an all important element of any insurance investigation.
Precise Investigation will take on a brief, usually in the form of claim notes provided by the insurer, with details of the claimant’s policy, the nature of their claim and the insurer’s point of interest in what that claim involves.
From there, we assign a specialist, depending on which type of investigation is to be carried out;
Typically referred to as “commercial surveillance,” an activities investigation involves monitoring a given Subject or Claimant’s movements from a particular location at a specified point in time. Activities investigations can be used as a means to determine whether a claimant is exaggerating their condition; if they’re moon-lighting while claiming to be injured or faking their injury altogether.
A factual investigation typically involves interviewing the claimant and any witnesses, examining and analysing details of the claim and cross-referencing those pieces of information with each other to expose any discrepancies.
In some instances, a factual investigation and activities investigation may be applied to the same claim, depending on the nature of the claim and those involved.
We boast one of the highest success rates in exposing fraudulent claims of any Australian private investigation firm, and we’re proud to continue offering our services to the many more insurers that suffer at the hands of fraud.
Below is a short list of the most common types of insurance-related investigations we undertake, where either an activities investigation or factual investigation may be put to use:
We regularly post interesting pieces of information, true stories and industry statistics on the Precise Investigation blog. Below, we’ve listed a few articles that may peek your interests. Each concerns either the Australian insurance industry, related statistics or stories based on activities and factual investigations we’ve carried out in the past: