Kathmandu. South Korea’s non-life insurance companies have partnered with the Institute of Criminology to fight insurance fraud. <\/p>\n
The Life Insurance Association of Korea and the Korea Institute of Criminology and Justice Policy are developing a cooperative structure to strengthen efforts to prevent insurance fraud. Insurance fraud is a crime that undermines people’s livelihoods. <\/p>\n
As a part of this partnership, the two institutions signed a memorandum of understanding at the Korea Institute of Criminology and Justice Policy. The agreement aims to increase joint investigation into insurance fraud, improve response mechanisms and help build more effective anti-fraud systems. <\/p>\n
Under this agreement, the two institutions will collaborate on joint research initiatives, co-organize educational programs, facilitate access to data and resources for research purposes, and strengthen institutional cooperation. <\/p>\n
According to the Life Insurance Association of Korea, the detected insurance fraud is expected to reach $795 million in 2024. This fraud will affect 1,08,997 insured. <\/p>\n
Social damage is increasing partly due to the increase in specific and organized large-scale fraud involving hospitals, clinics, insurance agents and brokers. In addition, fraudulent medical billing related to compensatory health insurance is increasing the pressure on the national health insurance budget. <\/p>\n
With this agreement, the two organizations plan to investigate the current state of insurance crime and conduct joint investigations to improve the system, and determine practical response methods through regular policy discussions and public hearings. \u2013Asia Insurance Review<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. South Korea’s non-life insurance companies have partnered with the Institute of Criminology to fight insurance fraud. The Life Insurance Association of Korea and the Korea Institute of Criminology and Justice Policy are developing a cooperative structure to strengthen efforts to prevent insurance fraud. Insurance fraud is a crime that undermines people’s livelihoods. As a […]<\/p>\n","protected":false},"author":16,"featured_media":225675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-283017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=283017"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283017\/revisions"}],"predecessor-version":[{"id":283018,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283017\/revisions\/283018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/225675"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=283017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=283017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=283017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}