NATIONAL INSURANCE ACADEMY

PUNE

P705 – PROGRAMME ON INSURANCE FRAUD DETECTION

FOR OFFICIALS OF AUDIT, INSPECTION & VIGILANCE DEPT. (LIC)

(2024 - 25)

Background:

Of late, the financial sector has been witnessing an increasing number of frauds leading to losses to companies to the tune of thousands of crores of rupees.  The frauds perpetrated have also undergone changes in tune with changes in character of the society, attitude of the people, improvement in technology, etc. Cyber Crime has gained much ascendance in the last few years.  Insurance Sector is no exemption to the frauds that have taken place in the financial sector.

These frauds have raised doubts on Corporate Governance, Business Ethics, Auditor’s role, Regulator’s role etc. The role of the Auditors, Inspection & Vigilance officials acquires serious dimensions in mitigating the Insurance Frauds.

Objectives:

§  To increase the awareness of Audit officials about Growing Insurance Frauds

§  To sensitize them about the Corporate & Regulatory measures prescribed in Fraud Mitigation.

§  Learning to assess fraud risk.

§  To learn about The Anti-fraud policy for regular and e-commerce.

§  To learn about IRDAI Corporate Governance guidelines.

Contents:

§  Auditor’s role in current scenario

§  Potential areas of fraud in Life Insurance

§  Ways to detect the same.

§  Fraud prevention mechanism

§  Forensic Audit,

§  Cyber Frauds and tools to detect it including Data Vigilance.

§  Introduction to Cyber laws and Cybercrime

§  Anti-Fraud Policy of LIC

§  Whistle blower policy & Integrity Pact

§  ERM

§  IRDAI Corporate Governance guidelines

§  Business Ethics

§  Case studies and group discussion

Participants Profile:

§  AAOs, AOs and ADMs of Audit, Inspection and Vigilance Departments in ZO/CO

§  A & I Nodal Officers in Divisions.

§  AAOs, AOs/ ADMs in CRM Dept in Divisions and Zones

§  Officers working in Divisional Offices and Zonal Offices to be nominated by HRD Department of Zonal Offices. Officers from CO to be nominated by CO-HRD as per recommendations of concerned CO-HOD.

Duration:       3 days

Dates:             29.01.2025 - 31.01.2025