International Fraud Awareness Week is here again! For 20 years, the Association of Certified Fraud Examiners has utilized Fraud Week to raise awareness about fraud and how to prevent it. The National Insurance Crime Bureau is happy to be an official supporter of this week.
Fighting fraud is a team effort. That is why the NICB works with law enforcement agencies, technology experts, government officials, prosecutors, international crime-fighting organizations and the public to lead a united effort to prevent and combat insurance fraud and crime.
In 2020, NICB was able to give back $46M in loss mitigation and $10.5M in restitution ordered. Additionally, NICB Agents recovered more than 30,000 vehicles with a combined value of $111M.
1. Boots on the Ground
Through an electronic claim referral process, NICB field agents work with representatives from member company claims and special investigation unit (SIU) groups, as well as law enforcement agency professionals, to investigate suspicious insurance claims and support civil and criminal prosecutive actions.
The NICB's investigative efforts focus on multi-claim, multi-carrier investigations of major criminal activity in concert with our members and law enforcement agencies nationwide. Our investigative services are managed by the Field Operations Department which is comprised of eight primary offices and Major Medical Fraud Task Forces offices nationwide, staffed by more than 190 experienced fraud and theft investigators. NICB investigators are also active participants in, and leaders of, dozens of additional insurance crime task forces nationwide. The NICB is the country's only not-for-profit organization to take a multi-carrier approach to fraud and theft investigations.
The Field Operations Department has eight primary offices and Major Medical Fraud Task Forces offices nationwide, staffed with more than 190 experienced fraud and theft investigators. NICB investigators are also active participants in, and leaders of, dozens of additional insurance crime task forces nationwide.
2. Resources to Learn & Grow Professionally
NICB serves as the training center of excellence for insurance crime prevention, detection, investigation, and prosecution. We offer state-of-the-art training curriculum for law enforcement officers, investigators, and intelligence analysts at every stage of their career. We also utilize our well-established subject matter expertise to inform and engage the public and increase insurance crime awareness.
Twice a week, NICB hosts live, interactive, one-hour virtual FraudSmart® presentations, providing opportunities to participate in class and engage with the instructor. Attendees can choose different training topics to create a more personalized training program. These sessions are led by industry experts and professionals. FraudSmart® training can also be delivered to members at their worksites by NICB agents and training experts. Courses can be customized based on members’ needs and their staffs’ knowledge levels.
NICB also offers on-demand courses through the National Insurance Crime Training Academy (NICTA). NICTA's robust curriculum, containing over 90 educational assets, encompasses a wide variety of courses. Our content covers topics related to fraud schemes, detection, and investigation. NICTA assists you in maintaining a consistent, high level of fraud awareness in your claims organization.
Our learning and development methodologies are reshaping how NICB members and law enforcement agencies learn to fight insurance fraud and vehicle theft crimes.
3. An Expansive Network
NICB’s strategy is centered on reinforcing our core strengths while building out additional capabilities designed to increase value and service for our members. On the policy front, NICB continues to engage legislative and regulatory bodies across the country as the undisputed voice on insurance crime. Our team understands the issues, can identify emerging trends, and has the network to marshal the most effective arguments before key stakeholders.
Throughout the United States, NICB hosts Regional Dialogue Meetings where claims and SIU professionals can share information with their counterparts at other companies, as well as with members of law enforcement.
4. Combatting Organized Fraud
Our specialty is fighting organized fraud & theft rings big and small- focusing on multi-claim, multi-carrier investigations. The NICB is proud to be the industry leader in the fight against fraud and we work hard to not only provide value to our members, but also assist our allies in law enforcement and the government. Our track record speaks for itself:
Accomplishments in 2020
- 224,722 vehicles recovered with a total value of $661M
- $46M in loss mitigation
- $10.5M in restitution ordered
- 924 hours of education to members and law enforcement
Leveraging our team’s collective investigative experience, analytical talent, and subject matter expertise, we work with our members to identify risks and anticipate emerging threats. NICB analysts and investigators have the ability to analyze aggregated member company claims data to identify organized networks. They also closely collaborate with our partners to share intelligence and initiate joint investigations. As threats evolve, so must NICB. NICB is committed to maintaining our legacy expertise while also finding new ways to utilize unique intelligence, predictive analytics, and advanced technology.
Our analysts provide timely, useful fraud-fighting data to our members through products and services that include:
NICB’s alerts (ForeWarn℠ and MedAware®) support the early detection and prevention of potential fraud and improve the speed and effectiveness of investigations. They can include information on known or suspected scams and various individuals and/or entities that may be involved.
In 2020, more than 3,400 alerts were issued to advise members of fraud schemes, crime forecasts and case developments.
NICB publishes reports on a variety of topics affecting the insurance industry, focusing primarily on industry statistics, industry trends or patterns, or analysis of a geographic area. These reports are intended to increase general industry knowledge, assist with resource deployment, document trends that may be observed or address NICB member needs.
Who Can Become a Member?
Insurance companies licensed in any of the 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, or the insular possessions of the United States, as well as auto rental companies, auto finance companies, auto auctions, and certain self-insured entities may be eligible for NICB membership.
Contact us today to discuss how your organization can benefit from NICB membership.