As an insurance investigator, you juggle several jobs: sleuth, auditor, consultant, accountant, even independent assets manager. Keep up with the latest trends occurring in your field with insurance consulting for inspection and investigation education and training.

Insurance investigation consulting can cover a range of business insurance issues, such as policy review, risk management, loss control and employee health and safety. Business owners and managers frequently turn to insurance inspection companies for help in assessing real estate and hard assets, but also require assistance in flushing out fraud. Hone your skills with further training in one of three areas:

1. Initiating investigative services for insurance companies to fight fraud;

2. Delving further into arson investigation;

3. Covering insurance inspections for building construction.

Action Steps
The best contacts and resources to help you get it done

Learn to direct insurance investigation services to attack fraud

Help your clients and your insurers save money by hunting down fraud perpetrators, whether running insurance scams on unsuspecting businesses or even swindling insurers out of money while within the company.

I recommend: The North American Training Group (NATG) offers continuing education on insurance fraud compliance. Formed in 1983, the National Society of Professional Investigators (NSPII) sponsors annual, national and regional seminars on insurance fraud recognition, prevention and investigation.

Study the insurance inspection consulting art of detecting arson

When a client suffers loss from a fire, learn the ins and outs of effective post mortems on buildings to quickly discern what transpired, especially whether the fire was accidental or deliberate. With the proper training, insurance investigation consultants can 'read' a fire site, determine if it's a crime scene, and save clients money, jobs and lives by tracking down and stopping arsonists.

I recommend: The National Insurance Crime Training Academy (NICTA) provides a school to train you on arson investigation, geared specifically for the insurance industry. Take the certification and training program from Fireplace Investigation Research and Education (FIRE) for proper training on examination of fireplaces, chimneys and vents for building inspections or post-fire investigations.

Master the insurance inspection service for building codes and engineering standards

Improve the lot of client, insurer and engineer when you master the finer points of inspecting a structure before or during the construction process, as well as combing through the remains after a natural disaster to determine failure points. Not only will you pinpoint the extent of the damage and the company's exposure, but you can help minimize cost and risk by identifying better construction materials or methods when it's time to rebuild or renovate.

I recommend: EFI Global presents a variety of continuing education classes, with the option of providing them at your location. They cover topics such as processing water loss claims, accident reconstruction and construction defects. Casey O’Malley and Associates offers in-person commercial building inspection courses as well as online claims consultant classes.

With vast resources, insurance inspection consultants offer experience, knowledge and skills to provide effective risk management and insurance solutions for your business.

Insurance inspection consulting firms assess and design programs to meet each client's specific risk management and insurance goals. An insurance investigator audits risk management programs and insurance policies, and recommends modifications or additional coverage to minimize business risk. Professionals who specialize in insurance consulting for inspection and investigation make important recommendations regarding protection afforded, adequacy of limits and cost competitiveness to help businesses prevent future loss.

Before beginning your search for independent insurance inspectors, it is important to define your consulting needs. Clearly identify the goal of your insurance investigation services, including project scope, time frame and budget. This information will help you select the best insurance business inspections consultant to meet your specific needs.

When selecting insurance investigation consulting companies, research each firm and evaluate the following:

1. What kind of experience do the insurance investigation consultants offer to minimize your business risk?

2. What services do the insurance inspection consulting companies provide to protect your business now and in the future?

3. How much should your business invest in insurance consulting for inspection and investigation?

Action Steps
The best contacts and resources to help you get it done

Hire insurance inspection companies that specialize in risk management for your industry

Select insurance inspection consultants who have extensive experience in risk assessment and insurance for your business or industry. Ask to see a list of past and present clients, and request references.

I recommend: Risk Consulting Group provides an online client list sorted by industry. McNeary, Inc. offers specialized services for business, government, health care and not-for-profit industries. Siver Insurance Consultants focuses on insurance consulting services for corporate and government clients.

Choose insurance inspections firms with proven insurance consulting skills

Review the insurance inspection service offerings provided by each consulting firm. Evaluate the insurance investigation consulting firm's ability to survey your current insurance program, determine if optimum deductibles are being applied and assess outside services. Request successful project examples of the specific skill sets you need.

I recommend: ICA Risk Management Consultants provides a comprehensive menu of services, including executive insurance reviews, disaster contingency planning and insurance program design and management. In addition to risk control services, F. A. Richard & Associates, Inc. offers program insurance services. International Adjusters, Ltd. features a vast array of risk management services like complete claims administration and policy review.

Select an insurance inspection consulting firm that meets your budget

Many insurance investigation consultants utilize an hourly fee structure for short-term projects. Several operate on a retainer with a minimum time commitment. Your investigative services for insurance companies cost will depend upon the scope of your project.

I recommend: Get a quote for services at Research Specialists, Inc. Alexander & Schmidt offers hourly, flat fee or agreed upon pricing, depending upon each client's billing needs.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  For optimal risk management protection, request that your insurance inspection consulting firm diversify your business insurance coverage among several insurance companies.

As an employer, it's important to learn the key terms used by insurance consultants to enhance your ability to handle employee questions and concerns. But it's also important to learn the ways that an insurance consultant can help you manage and protect your business interests. Since many insurance consultants not only investigate claims but also provide services and training to prevent safety problems, take the time to learn the key terms they use so you can maximize employee health and safety initiatives and minimize liabilities.

Action Steps
The best contacts and resources to help you get it done

Claim settlements

When there is a financial loss because of wind, floods or other disasters, insurance investigators settle claims after evaluating and then documenting the details of those events to expedite financial recovery.

I recommend: Read the information about claim settlements at Adjusters International.

Risk management

Risk management is a series of strategies and programs that monitor and identify various probabilities to limit risks. Risks can arise from a number of circumstances, including natural disasters and accidents.

I recommend: Get information about risk-management strategies and practices from the Risk and Insurance Management Society.

Loss control

Loss controls are methods taken to reduce the risk of loss through training programs and other measures. Potentially hazardous situations are analyzed to decide what course of action should be taken to prevent financial loss. For businesses, there are loss-control training programs to teach employers and employees safety measures to decrease loss due to accidents.

I recommend: Learn about the loss-control services provided by RBN & Associates.

Fraud

Insurance fraud is when someone knowingly tries to receive compensation from an insurance company by making false claims. Those who file fraudulent claims also affect those who don't, since fraudulent claims are one of the main reasons behind higher premiums. Many insurance investigators not only detect fraud but offer fraud prevention services as well.

I recommend: Learn about insurance fraud investigations by visiting All Star Investigations.

Surveillance

Since many people attempt to process fraudulent insurance claims each year, many insurance consultants offer services or specialize in surveillance. They hire either insurance investigators or private agencies to monitor people suspected of fraudulent claims.

I recommend: Read about surveillance at Insurance Investigations.

Litigation support

Litigation support is legal advice and support given to business clients dealing with insurance litigation. The services provided include legal advice, expert witnesses who will testify on your behalf and assistance in managing litigation documentation.

I recommend: Read about litigation support at ICA Risk Management Consultants.