THE IMPACT OF FORENSIC ACCOUNTING ON INSURANCE CLAIMS AND DISPUTES
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- 1-5 Chapters
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- Abstract : Available
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- Recommended for : Student Researchers
- NGN 5000
Abstract: The Impact of Forensic Accounting on Insurance Claims and Disputes
The study investigates the impact of forensic accounting on insurance claims and disputes, focusing on the objectives of determining its effectiveness in claim validation, reducing fraudulent claims, and enhancing dispute resolution processes. Using a survey research design, this study collected data from 400 respondents, including insurance professionals and forensic accountants, derived using Taro Yamane's formula to ensure statistical reliability. The case study focuses on Lagos, where insurance-related disputes are prevalent. A reliability coefficient score of 0.87 was achieved, indicating high reliability of the survey instrument. The findings revealed that forensic accounting significantly improves the accuracy of insurance claim assessments, mitigates the incidence of fraudulent claims, and streamlines dispute resolution. The study recommends that insurance companies integrate forensic accounting practices into their regular operations and provide continuous training for forensic accountants to stay updated with evolving fraud schemes.
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