Charges laid in massive health insurance scam worth $1M in fraud

Health insurance scam - Scam alert

A Florida man has been charged with impersonating a New Jersey doctor to make falsified claims. A Florida man is now facing charges in a massive health insurance scam. To swindle his insurance company out of about a million dollars, he allegedly assumed the identity of a doctor in New Jersey. The man proceeded to file a number of fraudulent claims against his medical plan. By using the New Jersey doctor’s identity, the man allegedly submitted over $1 million in fake insurance claims. The health insurance scam involved services that…

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Swiss Re insurance stops covering coal-dependent companies

Swiss Re insurance - Coal Station

The massive insurer is a part of a growing movement finding that fossil fuels are becoming a liability. The Swiss Re insurance giant has implemented a new policy against covering firms highly reliant on coal. As the world works to eliminate coal power, firms are finding that the move is as good for their bottom line as it is for the environment. The insurance industry is starting to see many fossil fuels as a type of reliance too risky to cover. The new Swiss Re insurance coverage policy will refuse…

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Are you ready to make an insurance claim with voice-calling AI?

Voice-calling AI - Woman and Robot

Google’s artificial intelligence is moving in as a replacement for low-skilled human labor jobs. Google’s surprisingly natural voice-calling AI may soon be headed to insurance call centers. A report by The Information was picked up and investigated by Engadget. The report showed that an insurance company in the United States has shown interest in Google’s AI tech. The insurance company was not named in either report, but it has expressed interest in AI. The Duplex voice-calling AI from Google would be able to “handle simple and repetitive customer calls” said…

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4th of July accidents expected to spike again this year, says auto insurance industry

4th of July Accidents - Highway Car Crash

The Insurance Institute of Highway Safety cautions that summer driving is often deadly. The Insurance Institute of Highway Safety (IIHS) has cautioned drivers about the dangers of 4th of July accidents. In fact, its data shows there are more car crashes on Independence Day than any other day of the year. The IIHS has based this information on fatal crash data from the last five years. The largest contributors to 4th of July accidents are motorcycles and alcohol, says the IIHS. The institute’s five year study determined that every year…

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Insurance fraud technology now includes artificial intelligence

Insurance fraud technology - Artificial Intelligence Tech

Insurers are looking to A.I. and machine learning to help spot suspicious claims in all new ways. Insurance fraud technology is looking all the more futuristic these days with the introduction of artificial intelligence. Machine learning is helping the insurance industry to identify suspicious-looking claims. Moreover, A.I. can also make its way through social media posts to identify signs of fraud. Fraudulent activities can include anything from falsified claims to sketchy brokers, and it’s expensive. The FBI estimates fraud is costing insurance customers over $40 billion per year. The industry…

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Doctors seek alternatives to having to accept health insurance

Accept health insurance - Doctor

A growing trend is sending doctors to use monthly membership fees instead of payments from insurers. A growing number of doctors are refusing to accept health insurance in favor of other systems such as monthly membership fees. This has been a response to challenges that they have faced with insurers as well as struggles they’ve seen among their patients. Doctors feel held back by a system encouraging them to consistently see high patient numbers. Struggles with claims processes and rising costs have also frustrated their patients. Doctors feel as though…

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Auto insurance customer satisfaction reaches new record, says J.D. Power

Auto insurance customer satisfaction - Thumbs Up

Considerable improvements to policyholder support and services have made the difference. Auto insurance customer satisfaction has reached an all time high, says a new J.D. Power study. The J.D. Power 2018 Auto Insurance Study said there were a number of improvements that led to this positive result. Insurance companies are starting to find their balance with customer interaction, said the study. The study results showed the difference was made by improvements in billing and payments, digital interactions, and offerings. The auto insurance customer satisfaction is improving due to a better…

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Ohio health insurance companies release recommendations to fight opioid abuse crisis

Opioid abuse crisis - Ohio health insurance - hands reaching for pills

Eight of the largest insurers in the state issued fifteen recommendations to combat the epidemic. Eight of Ohio’s largest health insurance companies have issued a list of 15 recommendations to fight the opioid abuse crisis. The misuse of these serious drugs has reached epidemic proportions within Ohio and many other states. The insurance companies have attempted to find areas where reasonable action is possible in combating the opioid abuse crisis. Among the recommendations are efforts to identify pregnant addicts to make certain they obtain the treatment they need. That said,…

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Walgreens insurance denial places it at risk of lawsuit over death, court says

Insurance Denial - Bottle of Pills

The pharmacy insists that it was not obligated to contact the doctor of a woman who then died. The Massachusetts Supreme Judicial Court has ruled that the family of a woman who died has the right to sue Walgreens. This court case will question whether or not a pharmacy is obligated to assist a patient in being certain his or her insurance will provide prescription coverage. The case involves a Massachusetts woman who had epilepsy and required a drug to control her seizures. Yarushka Rivera’s epilepsy required her to take…

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Insurance companies to feel climate change effects most, but aren’t investing that way

Climate Change effects - Hands - globe - world

Insurers will be hit hardest by rising global temperatures, but their investments aren’t low-carbon. The insurance industry will feel climate change effects more powerfully than most other industries. That said, a new Forbes report suggests insurers are failing to invest into the low-carbon economy. The insurance sector is most threatened by droughts, floods, extreme heat and severe storms. However, the report shows that climate change effects don’t appear to be enough motivation to change investing habits. These firms are some of the largest investors in the world and stand to…

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