A common fraud in the WC insurance space is undercounting or overcounting “volunteers”. In most states, volunteers are not automatically covered by workers compensation insurance. They can be included, typically using an endorsement. Where fraud exists in when insureds try to provide coverage for those volunteers who are injured doing voluntary/paid work on a regular basis.
VeracityID detects and eliminates this cheat by identifying historical data to identify insured companies who have suspicious or fraudulent claims in the past. Avoiding these insureds on your books clearly avoids potential future losses.
