The insurance industry is one wherein many fraudulent activities occur. A reliable and accurate recorded statement is one of the main tools available for early detection of any fraudulent activities. A legal transcription service provider offering insurance transcription can efficiently transcribe the recorded statements in the required format. Accurate recorded statement transcripts are crucial when it comes to maintaining a competitive advantage and help detect and correct fraud activities.
Here are five major benefits of transcribing relevant audio recordings for the insurance industry.
- Useful for arbitration files: Keeping transcripts of the recorded statements is helpful at the arbitration level. Audio recordings are not allowed in Arbitration Forums. This is when transcripts of recorded statements become useful and it also helps in winning a case.
- Helps identify fraud activities: Transcription of recorded statements helps in finding fraud indicators easily. It helps adjusters to prove if any foul act has taken place. With the transcribed documents, the claim handler can compare each statement and find out discrepancies. If any case goes to court, then the transcripts can be a proof of evidence, and helps in mitigating loss and prevents repetition of any fraud activities.
- Useful for adjusters: Transcribing recorded statements becomes immensely useful for adjusters as it saves time. With the transcripts, the adjusters can refer to the case and understand even the smallest details.
- Enables easy transferring of files between departments: Insurance claims need to be transferred to various departments and adjusters. By transcribing the recorded statements into accurate digital transcripts, the files can be transferred easily among departments.
- Helps to have a complete file: Maintaining a complete file is very important in the insurance industry. All recorded statements can be transcribed into verbatim form and it helps the adjusters to have a complete file of a claim. Keeping a complete file helps adjusters to access the documents later also without any hassles.
Accurate and reliable transcription of recorded statements is essential for insurance companies. A reputable legal transcription outsourcing company helps in transcribing important documents of an insurance company. They can transcribe:
- Recorded statements
- Rough notes on investigation
- Theft or property damage reports
- Interviews of accident victims/ witness
- Insurance reports on property, casualty, holdings, assets and so on.
Reliable providers of legal transcription services understand how sensitive insurance related information is and attach great importance to maintaining the confidentiality of such files.