Bills and Reimbursement Verification

Employees submit travel, medical, entertainment and other bills to claim reimbursements for expenses allowed by the employer. Companies, both foreign and domestic, hit by shrinking profits, are poring over expense statements submitted by employees to weed out fake or higher-than-justified expenses on various heads.

Everybody is looking to make a quick buck, sometimes this takes the form of earning through fake insurance claims. But are there no checks and balances, you may wonder. The short answer is no, and that’s why there are many who get away without the requisite verification.

Companies shy away from verification of claims of all types such as life insurance, medical insurance, accident insurance, general health insurance, home insurance, jewelry insurance or vehicle insurance, etc. because they worry that the cost of verification may be high in terms of time and money. Besides the sheer population of India makes claims verification a mammoth task. But check this fact, A recent survey estimated the number of false insurance claims in India to be around 10-15 per cent of total claims, despite existing in-house verification, processes in companies.

This is extremely big, the report further suggests that the health insurance industry in India is losing approximately Rs. 600 crores on false claims every year.

The choice to outsource Trusted Support Services Private Limited is really very simple.

Would you rather be a company that accounts for the Rs 600 crores in fraudulent insurance claims? Of course, it’s a no brainer. When you enlist Trusted Support Services Private Limited to verify insurance claims anywhere in India you can rest assured that you get the best player in the industry for the job. We’ll make sure that your company is not duped of a single paisa in false insurance claims.