• Corporate Alliance Partner Profile:
    AIA Group Limited

    As the largest independent pan-Asian life insurance group, AIA Group Limited (AIA) sees fraud fighting as an ongoing process in which fraud prevention policies and measures are critical to the long-term and sustainable success of their business. According to Ho Sheechean, Head of Investigation at AIA Group Limited, "AIA is vigilant in implementing effective anti-fraud measures for fraud detection, prevention and response. These measures include enhancing our policies and guidelines, establishing a centralized fraud management system, raising internal collaboration within departments, conducting fraud audits and using data analytics for proactive fraud detection."

    Headquartered in Hong Kong and originally founded in 1919 in Shanghai, AIA has operations in 17 Asia-Pacific markets. AIA offers a range of products and services including life insurance, accident and health insurance and savings plans. And as a leading life insurer, Ho says that AIA wants to take a proactive stance in fighting fraud.

    Imperative to this goal is AIA’s well-established internal control system that deals with fraudulent scenarios commonly known in the industry. These can range from employee fraud in the areas of procurement, expense claims and abuse of confidential data; misappropriation of a clients’ premium or creating fictitious policies to earn higher incentives; claims abuse by policyholders and the use of fictitious documentation during policy application; or external fraud involving third-party business partners, like vendors, who collude with employees.

    Our investigation teams in 17 Asia-Pacific markets can leverage the training resources... to sharpen and strengthen the investigation skills and knowledge as required."

    Ho Sheechean
    Head of Investigation at AIA Group Limited

    To combat the seemingly endless possibilities for fraudulent activity, Ho says that AIA employs data analysis and predictive modeling to detect and prevent unusual business activities. "We benchmark with the best market practice and strengthen our internal control system whenever necessary," Ho says. "AIA undertook a proactive initiative in using data analytics to detect agents’ misconduct in certain countries. Findings from this initiative allowed AIA to weed out these agents and to tighten our internal policies and guidelines to prevent such misconducts."

    AIA has also rolled out group-wide fraud awareness e-learning to new and existing employees. AIA conducts e-learning as part of the mandatory curriculum for all AIA employees. Classroom trainings are used to raise employee awareness relating to fraud detection and prevention, and internal trainings are used to enhance investigation skills for CFEs on staff.

    Ho says that joining the ACFE’s Corporate Alliance program gave AIA the access it needs to the ACFE’s exclusive training resources and global network, thus enhancing their anti-fraud efforts. "Our investigation teams in 17 Asia-Pacific markets can leverage the training resources (ACFE seminars, conferences and self-study programs) and local chapters to sharpen and strengthen the investigation skills and knowledge as required," Ho says. "By learning about the latest fraud schemes globally through the ACFE, AIA can formulate effective detection measures to mitigate fraudulent activities in a timely manner."

    We see value in partnering with other corporations [to share] information and best practices...Such an initiative is mutually beneficial as latest, uncovered fraud schemes can be shared and tackled in a timely, effective and even collective manner."

    Ho Sheechean
    Head of Investigation at AIA Group Limited

    Ho also says that they encourage their investigation teams to obtain the CFE credential. "The CFE credential is one of the leading global qualifications amongst the fraud examiners’ community. The training allows an aspiring CFE to gain fresh insights and improve investigation skills while combating fraud."

    AIA wants to take a proactive stance in fighting fraud by tapping into the resources and training the Corporate Alliance program offers. "We see value in partnering with other corporations [to share] information and best practices," Ho says. "Such an initiative is mutually beneficial as latest, uncovered fraud schemes can be shared and tackled in a timely, effective and even collective manner. Meanwhile, best practices are disseminated quickly and adopted by everyone."

    Ho and his team are just one of many large corporations that have signed up to partner with the ACFE Corporate Alliance program and take a visible stand against fraud. For more information about the program, visit ACFE.com/Corporate.