Investigating Corruption in the Insurance Market

Services

Reputational Risk Research

Challenge

Our client, a leading global corporate investigations firm was retained by a leading insurance company to investigate whether their firm was engaged in corrupt practices in one of the LatAm markets in which they operate.

The first step was to understand to what degree corrupt practices is the norm in the industry in this particular market.

Approach

Americas Market Intelligence (AMI) consultants conducted discreet interviews with known sales directors and product managers who operate in LatAm insurance.

Approximately 15 interviews in total were conducted to understand how much corruption goes on, how corrupt practices are conducted, and which firms are thought to be the most egregious in their corrupt practices.

Result

AMI’s report provided the client with an in-depth look at insurance corruption in the target market as well as an initial assessment of the practices of their client in that market and specifically to what degree those practices are deemed as corrupt.

Furthermore, based upon consensus estimates from interviewees and an understanding of the size of the insurance market, AMI was able to quantify the level of corruption in the industry.

Client Benefit

The client was able to quantify and understand the prevalence of corrupt practices in the insurance industry in a key Latin American market