PUNE
P749
- FRAUD ANALYTICS IN MOTOR INSURANCE (NON-LIFE)
Background:
Globally, insurance frauds are a major challenge for
insurers. Left unchecked, it can distort profitability of insurers and also
increase insurance prices causing significant consumer detriment. Ultimately,
this can adversely affect the competitive position of players. Frauds can exist
at various points of the insurance value chain. They are also deeply linked to
the operational risk profile of insurers.
The estimated value of insurance frauds in India for
Life and General Insurance combined is more than ₹ 20,000 crore. Motor insurance frauds account for a major share of
claims outgo, thereby impacting the bottom-line of insurance companies. It
is, therefore, imperative for insurers to have a robust fraud management system
covering the entire insurance value chain.
Objectives:
This programme aims to facilitate the participants to:
§
Gain
insight into fraud and its implication for motor portfolio
§
Understand
the sources of frauds.
§
Understand
patterns of, and steps for, prevention
§
Minimize
the impact of frauds.
§
Use of
analytics in detecting & managing motor insurance frauds
Contents:
§
Fraud and
its impact on Motor portfolio
§
Classification
of frauds
§
Identification
of key areas and pattern of fraud
§
Detection
of frauds - Fraud triggers / Red flags
§
Frauds in
underwriting, claims
§
Fraud
Investigation
§
Technology
intervention in fraud management
§
Fraud
analytics - Impact on decision making.
§
Role of
law enforcing agencies in curbing frauds
§
Creating a
framework for managing frauds
§
Fine-tuning
claims strategy
Participants’
Profile:
Officials handling Motor Insurance; Officials in analytics
department in Head Office, Regional Offices, Motor Hubs, Operating Offices of Indian
and foreign public & private sector General Insurance Companies.
Duration:
2 Days
Dates:
I.
02.09.2024
- 03.09.2024
II.
28.11.2024
- 29.11.2024