Insurance
Insurance industry in India has seen numerous changes over the past decade. However, due to the nature of the industry, the decrease in the ethical quotient, tough competition, brand building and unhealthy focus on numbers has exposed the insurance sector to fraud and misconduct. To attract customers, sales agents often state and sell facts contrary to the terms of the insurance contract.
Mis-selling is one of the key issues faced by the insurance industry and it can result in reputational damage, financial loss and compliance risk for the insurance company. Misrepresentation by the policy holder is highly prevalent in the insurance sector.
Square Forensic Advisors assist in verification of the document submitted by prospective customers by conducting document verification which is just not limited to signature verification but also other type of forensic analysis which would strengthen the evidentiary value of the case not only for internal purpose but also for legal purposes.
Major services for Insurance sector are Investigation which mainly consists of
- Incidence Investigation (Theft/Robbery/Intrusion) etc.
- Corporate Investigations
- Fraud
- Embezzlement
- Theft of intellectual property or proprietary information
- Digital forensic services like image authentication for claims against KYC
- Fire and Arson Investigation for Fire Insurance Claims
Square Fire and arson experts examine the physical attributes of a fire scene and identify and collect physical evidence from the scene. These evidences are then analysed to help determine if the cause of the fire was accidental or deliberate and assist insurance companies in analysing the Fire Insurance Claim Cases.