{"id":911642,"date":"2025-11-19T09:31:57","date_gmt":"2025-11-19T14:31:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/travelers-shares-strategies-to-help-protect-businesses-and-consumers-from-insurance-fraud\/"},"modified":"2025-11-19T09:31:57","modified_gmt":"2025-11-19T14:31:57","slug":"travelers-shares-strategies-to-help-protect-businesses-and-consumers-from-insurance-fraud","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/travelers-shares-strategies-to-help-protect-businesses-and-consumers-from-insurance-fraud\/","title":{"rendered":"Travelers Shares Strategies to Help Protect Businesses and Consumers from Insurance Fraud"},"content":{"rendered":"

<\/p>\n

Travelers Shares Strategies to Help Protect Businesses and Consumers from Insurance Fraud<\/b><\/p>\n

HARTFORD, Conn.–(BUSINESS WIRE<\/a>)–
\nIn recognition of International Fraud Awareness Week, Travelers (NYSE: TRV<\/a>) is highlighting strategies to help businesses and consumers protect themselves from insurance fraud. This threat costs Americans $308.6 billion annually, according to estimates from the Coalition Against Insurance Fraud.<\/p>\n

\n\u201cInsurance fraud drives up the overall cost for everyone and undermines consumer trust and the integrity of the insurance process,\u201d said Pranay Mittal, Vice President of Travelers Investigative Services. \u201cBy raising awareness of the many forms these threats can take, and equipping individuals and businesses with the tools they need to recognize and prevent fraud, we can create a more secure marketplace together.\u201d<\/p>\n

\nA recent Travelers survey indicates businesses<\/b> are primarily concerned about medical provider schemes involving coordinated networks of health care professionals; digital scams affecting business systems and data; and employee fraud occurring within organizations. Separately, consumers<\/b> were concerned with contractor fraud<\/a> and pre-planned car accidents that target individuals.<\/p>\n

\n\u201cCriminals keep getting smarter and more sophisticated, and the resulting insurance fraud costs the industry and everyday consumers hundreds of billions of dollars each year,\u201d said David J. Glawe, President and Chief Executive Officer of the National Insurance Crime Bureau. \u201cOur partnership with Travelers, along with other insurers, law enforcement, regulators and legislators, is essential to combat fraud through enhanced education and prevention measures that help businesses and consumers recognize and respond effectively to these threats.\u201d<\/p>\n

\nThe public should be aware of emerging schemes and be prepared to immediately report any concerns to their insurer and law enforcement.<\/p>\n

\nAdditionally, Travelers recommends businesses take the following steps:<\/p>\n