Fraud Prevention Month: fighting group insurance fraud, together
Communiqué
As we approach Fraud Prevention Month in March, it is essential to take proactive steps to address the issue of group insurance fraud.
We firmly believe that through collective efforts, we can minimize the risks associated with fraudulent activities and ensure the integrity of group insurance plans, including yours.
A real crime with real consequences
Group insurance fraud is a real crime. This form of fraud occurs when individuals or organizations deliberately deceive insurance companies, leading to detrimental consequences for all parties involved.
As a plan administrator, the consequences of group insurance fraud are far-reaching for you. You may have to face increased premiums and may need to make difficult decisions, such as reducing benefits for your plan members. As group benefits are key in attracting and retaining talents, reducing coverage could also affect your organization’s competitiveness in the job market.
Group insurance fraud also directly affects your plan members and their family members – they could end up paying higher premiums for potentially less coverage.
What we do
At iA Financial Group, we are committed to detecting and preventing fraudulent activities through a robust and comprehensive approach. This includes the utilization of advanced technology and data analytics to scrutinize patterns and identify any irregularities that may indicate potential fraudulent behaviour.
We also perform random audits of claims and service providers to ensure compliance with industry standards, bolstering our efforts in fraud prevention.
What you can do
We believe in the importance of prevention and open discussion with the parties involved.
Your collaboration is essential to raise awareness and empower your plan members to partake in mitigating the risks of fraudulent behaviour.
Team up with us and share this the email that we prepared for your plan members (French version of the email).
For more information, please contact your Advisor or your iA Financial Group Client Relationship Manager.
We're invested in you and your plan members by offering innovative solutions focused on total wellbeing that promote an attractive, healthy and productive workplace.
We focus on creating a simplified, personal client experience that offers peace of mind and puts listening, trust and technology at the heart of everything we do.