RALEIGH, N.C., May 4, 2006 (PRIMEZONE) -- MJM, well known in the insurance industry for innovative approaches to detecting and fighting fraud, has introduced its new fraud-mitigation program in partnership with a major international insurance carrier.
The creators of the program say it was designed to be a "full court press" against insurance fraud while conserving the resources of MJM's clients. While some of the components of the program may be found in the claims-support industry, this is the first time they have been configured in this manner. This turnkey program synergistically combines many fraud-mitigation components, which include:
-- Embedded SIU consultants in every major claims center
-- Aggressive field investigation of all suspicious claims
-- Defined SIU service and training plans for each claims location
-- Real-time "dashboard" reporting that facilitates continuous program
evaluation and adjustment
-- Aggressive and focused prosecutorial activities -- demonstrating
the penalties for insurance fraud and raising public awareness of
insurer's intolerance of fraud
-- Concerted restitution and civil actions process to recapture
monies paid out on fraudulent claims
-- Regular strategic-level reviews with senior claims leadership
-- Outcomes-based impact reporting on return on investment
-- Daily interaction with claims staff to ensure a true learning
environment
-- Creation of real and perceived value through all levels of the
claims organization
"The World-Class Fraud Mitigation(tm) program is a culmination of extensive research and field experience," said Michael J. Malone, Chairman and CEO of MJM. "The program will combat insurance fraud on all fronts, yet it is easy to integrate with the insurance carrier's day-to-day operations. We think this is the wave of the future for fraud-fighting organizations."
"This new program isn't just another service offering; it's a comprehensive solution to the whole insurance fraud issue," said D. Russell Buchanan, senior vice president of MJM. "We spent hundreds of hours developing and refining it. It will go a long way to put insurance fraud on the run."
About MJM
MJM Inc. is the global leader in insurance investigation and claims services. MJM accepts referrals in all fifty states and on every continent. With a comprehensive array of services to offer, for client ease they are gathered into seven major Service Groups: surveillance, claims investigation, special investigations unit, fire investigation, database search, independent adjusting and special services (consulting, training, compliance, corporate services and technology solutions.) To complement its service groups, MJM offers flexible business models including strategic partnerships, vendor management, outsourcing variations and more. Major service centers are located in North Carolina, California and Australia. For more information, visit www.mjminc.com
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