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Companion P&C Selects GlobalOptions as SIU

The commercial carrier will be provided with regulatory compliance, as well as fraud training, reporting, and investigation services.

Related: Inside CNA's Special Investigative Unit

Columbia, S.C.-based commercial insurer Companion Property and Casualty has selected Orlando, Fla.-based GlobalOptions as its special investigative unit.

GlobalOptions will handle regulatory compliance, fraud training and reporting, and the investigation and identification of suspected fraudulent activities. Reporting will be handled by the GlobalTrak platform, which will "allow Companion to calculate ROI on anti-fraud related activities in addition to generating annual reporting for compliance purposes," GlobalOptions president and CEO Frank Pinder says in a statement.

“We chose to partner with GlobalOptions because of their expertise in developing innovative SIU solutions,” Robert Rhodes, COO for Companion P&C adds in a statement. “By implementing GlobalOptions SIU program we will be able to consolidate investigative efforts across multiple lines of insurance while coordinating the anti-fraud efforts of the claims organizations that administer our claims. The GlobalOptions program gives Companion the ability to respond to SIU regulatory requirements on a national level.”

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio

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