
BIG - Solving the Problem of Insurance Fraud
When the American Property Casualty Insurance Association (APCIA) and FICO conducted a survey of 143 U.S. insurance companies, 48% of insurance companies revealed that fraud accounted for 5-10% of their claim costs. According to the US Federal Bureau of Investigation (FBI), the United States loses more than 40 billion dollars each year due to insurance fraud. However, there is now some good news;