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Business quality control in issuing life insurance
Journal of Insurance Medicine (New York, N.Y.)
|October 28, 1999
Summary
Business quality control and fraud control share similarities in life insurance. Adopting a quality control approach may be more effective than traditional fraud investigation methods.
Area of Science:
- Business Management
- Insurance Operations
- Risk Management
Background:
- Fraud investigation and fraud control are distinct processes.
- Auditing life insurance companies differs from policy issuance and business quality control.
- Business quality control and fraud control exhibit significant overlap.
Purpose of the Study:
- To explore the commonalities between business quality control and fraud control in the life insurance sector.
- To advocate for the adoption of business quality control strategies over traditional fraud investigation methods.
Main Methods:
- Comparative analysis of business quality control and fraud control methodologies.
- Exploration of shared principles and practices between the two domains.
Main Results:
- Business quality control and fraud control share common objectives and operational elements.
- Traditional fraud investigation methods may be less comprehensive than a quality control approach.
Conclusions:
- Life insurance companies should consider integrating business quality control principles into their fraud management strategies.
- A business quality control framework offers a potentially more effective and holistic approach to managing risks and ensuring business integrity.
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