Poor hiring decisions can have a negative impact on the insurance sector as incidents such as fraud, misconduct or theft of sensitive information are likely to committed by the employees. Insurance companies are therefore, should be deeply focused on protecting the reputation of the company by conducting background screening

1. Background
Screening
Trends in Insurance
Industry
?

2. Poor hiring decisions can have a
negative impact on the insurance
sector as incidents such as fraud,
misconduct or theft of sensitive
information are likely to committed by
the employees. Insurance companies
are therefore, should be deeply
focused on protecting the reputation of
the company by conducting
Background screening
Can poor hiring
decision have
negative
impact on
insurance
sector?

3. Considering the fact that the
insurance industry deals with a lot
of confidential information, most
of these insurance companies are
very well-regulated and very much
concerned about compliance with
government regulations. This calls
the necessity of
Background
screeningof
insurance professionals as it helps
to investigate claims more
effectively. Moreover it helps to
reduce potential financial loss by
detecting potential signs of fraud.

4. As per survey conducted by
a leading
Background
verification company in
India, highest discrepancy in
insurance industry displays
in the 30-39 age group,
followed by 25-29 bracket.

5. Check-wise analysis in
the Insurance industry
shows that
employment
discrepancy has the
maximum contribution
throughout the fiscal
2010-11,
2011-12 and
2012-13, the
second highest
contribution being that
of reference
discrepancy. However,
Address and education
discrepancies shows a
contrasting trend over
the fiscals

6. With an effective
Background
screening
policy in place,
insurance industry can
hire experienced,
trustworthy employees
, which would
eventually minimize
the risk of the
insurance fraud and
theft of confidential
data to a large extent

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