Anti- corruption and integrity at the car insurance company Essay

Anti- corruption and integrity at the car insurance company - Essay Example The study identifies the main causes of fraud cases and corruption in this industry. It has been identified that the major cause of fraud cases in the insurance companies is poor management in these organizations. It is necessary to have cooperation among the leaders in order to facilitate the policy formulation process. This essay declares that the issue of corruption and integrity in car insurance has become one of the major problems facing many insurance companies. Integrity is of great significance in any insurance company. Many companies have incurred huge losses through corruption. The long run success of any insurance company is determined by its ability to maintain a high level of integrity. Corruption and fraudulence in the car insurance companies has significantly affected their ability to provide quality services to their clients. For instance, when the company compensates fake cases, this may lower their ability to offer best services on the genuine cases. This may significantly affect the company’s performance both in the short and the long run. Frauds lead to increase in the car insurance premiums. The number of fraud cases has become very high while the companies incur too much in attempt to reduce the level of such cases. In many cases, companies encounter the cases of corrupti on in their day to day operations. These significantly hinder the company’s efforts to achieve their targets.