The insurance industry is one of the largest sectors that contribute greatly towards the growth of the economy because of the fact that it stimulates growth confidence amongst investors and ensures the continuity of businesses. In the UAE alone, the insurance industry consists of more than 7,000 companies with an annual premium collection of over $400 billion. Many experts say that the massive nature of this industry could be the main reason the cost of insurance fraud is plummeting every year. While the significant role played by insurance cannot be understated, the industry sweeps away millions from average citizens on