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Mobile Phone Insurance Frauds 3/24/2014

True Insurance David Wright

People invest in insurance for security because the day we buy a product the threat of losing it follows us.


Insurance provides us, a fair compensation in case of any misfortune or loss to the property insured. People are investing at least one fourth of the income on assurance policies. Life is full of miseries and pleasure, the same way every activity in life results in two ways negative and positive. In the case of insurance, at one side the insurance is providing coverage and at the other side insurance frauds is irritating the people.

Assurance fraud is of two styles: A) Customers are defrauded by cover provider companies. The chief executives of insurers sell such insurance to the customers, about whom they know, that the customer doesn’t need it, neither, he will be able to claim on it in future. The assurance product is sold with false promises. B) Cover provider companies are defrauded by customers or cheaters.


Some cheaters are misusing the mobile phone insurance for monetary benefits.

There are various styles of mobile

frauds: 1) In some cases the owner themselves, lodge false complain of missing mobile phone and claim for cover. 2) ID Fraud takes place: In id fraud, criminal steals your identity and uses it to run up bills like applying for insurance, by the identity proofs and original bills (even online). 3) Theft of mobile: In this case the thieves steal the mobile and tie up with local vendor providing duplicate bills and claim cover, besides the mobile is existing. 4) Smart people:

Some extra smart people defraud

customers and mobile phone providers by selling purported mobile phone insurance policies, which are not regulated by authorized body and are invalid. Relavent case can be studied on internet.

As a result of intelligence sources and growing databases, we are now deflecting more fraud than ever before. Insurance for mobile Phones frauds are very frequent as,


people out there think, just because the amount of the insurance claim is just a few hundred pounds, nobody will be interested in detecting or investigating the fraud but the nations are getting alert.

Below mentioned suggestion can resist phone insurance frauds: a) Id security, lockers be maintained, safe sites be used for online money transactions and shopping. b) Paper bills are collected and useless papers be dumped in the shredder. c) Be aware of smart people, check the identity cards and cross check the identity in the company. d) Recyclers of commodities are checked, by the owner as well as the investigating officer, if mobile is missing.

It is said that prevention is better than cure; hence it’s better to keep eyes open so that frauds diminish in numbers in our society.


Mobile Insurance Fraud