Insurance Fraud Investigator Certification

Insurance investigators will thoroughly look into the facts surrounding an accident.

Insurance investigators look for fraud in insurance claims. To do this, they conduct surveillance, interview witnesses, ensure that doctor's offices are properly licensed, and mine insurance industry databases to see if anyone involved in a claim has ever attempted insurance fraud, according to the Bureau of Labor Statistics. Private training organizations, such as the International Association of Special Investigation Units (IASIU), provide training, examination and continuing education of certified insurance investigators. Certification can help an investigator qualify as an expert witness in court cases.

Background

IASIU applicants need 100 points to qualify for certification.

To be eligible for IASIU certification, applicants must pass an examination. The IASIU requires applicants to have a combination of academic degrees and professional experience to be eligible. These requirements are based on a point system; an applicant must have 100 points to qualify. A bachelor's degree counts for 20 points; each graduate or professional degree, such as a master's degree, Ph.D. or law degree counts as 10 additional points. Each year of experience as a law-enforcement officer or insurance investigator counts for 10 points. Applicants must have three years, or 30 points, of experience in a special investigative unit. Publication in scholarly journals adds additional points; other professional certifications, such as CPA certification, are worth five points.

Examination

Study for the IASIU exam by reviewing appropriate articles and presentations.

Applicants must pass an examination for which there's no coherent study guide. The IASIU notes that the test was developed using seminars from IASIU conventions since 1996 and two books. The presentations are available from IASIU for $25 each. The books are: "Law of Claims Fraud Investigation and Defense" from the American Educational Institute and "Property Investigation Checklists: Uncovering Insurance Fraud." The IASIU suggests that applicants review several materials in preparation. The exam is offered several times a year in various cities. Members of the IASIU must pay $200 to take the test; nonmembers pay $400. The IASIU publishes a list of exam dates on its website, iasiu.org.

Recertification

Investigators need to continue their education to remain certified.

After passing the test, certified investigators must engage in continuing education to remain certified. Continuing education requires an ethics course. The organization requires 60 credits every three years. Investigators must obtain a minimum of 10 CEUs each year. Classes eligible for credit need not be approved by IASIU ahead of time.

Salary Expectations

Check out salary expectations for an insurance investigator to make sure they jive with what you're expecting to make.

According to the Bureau of Labor Statistics (BLS), the median wage of an insurance investigator was $55,760 in 2008. Half of all investigators made between $42,400 and $72,860 that year.

State Requirements

Several states, according to the BLS, require insurance investigators to hold licenses either as an insurance investigator or as a claims adjuster. So check with your state department of insurance to determine see if they issue licenses or if there is a specific requirement where you live.

Other Certifications

Other certifications exist in the field. The National Association of Investigative Specialists (NAIS) issues a Certified Insurance Claims Investigator designation. The NAIS requires applicants to pass a test to obtain this certification; several study guides for this test are available.

The North American Training Group offers an IFC (Insurance Fraud Certified) certification for private investigators. The program features several levels of certification, from basic to advanced. Certification is obtained through training and testing.

References

• Bureau of Labor Statistics: Claims Adjusters, Appraisers, Examiners and Investigators
• International Association of Special Investigative Units: Certified Insurance Fraud Investigator
• National Training Group: A Professional Designation for PIs