The global insurance market is a multi-trillion-dollar market worth more than $4.5 trillion in gross insurance premiums (2015) In 2016, the gross insurance in premiums in the U.S. reached $2.67 trillion. The annual cost of insurance fraud is approximately $40 billion, costing the average American family $400-$700 in increased premiums.Download this whitepaper to learn how to mitigate the risk of Insurance fraud. For more information, visit CNN.com/Insurance Fraud Prevention.”]
Source: https://www.bankinfosecurity.com/whitepapers/mitigating-risk-insurance-fraud-w-3940