Insurance Frauds - How to Control it?, Training Insurance Frauds in India
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Full Day Training Programme on "Insurance Frauds - How to Control it?"

Seminar - Programme Main Page
  Date: Friday, 24 Aug 2018
Time: 09.30 am to 05.30 pm
Venue: PHD House, New Delhi
Seminar Brochure Seminar Schedule Press Release Response Form
Organized By:
Insurance Foundation of India (IFI) in Association with PHD Chamber of Commerce and Industry
Contact Details
Ms. Shveta Kaushal
Programme Coordinator, Insurance Foundation of India
Om Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi – 110065
Mob: 7678689961 Email:
Why the need for Specialized Industry Focused Training Programme on Insurance Frauds - How to Control it?
Insurance Frauds is a worldwide phenomenon. According to "Coalition Against Insurance Fraud" (a leading organization of USA) estimates Insurance Industry in USA is losing $80 billion a year across all lines of insurance. Estimates by India Forensic Research are that in our country this figure is in the range of Rs 45000 Crores per year and is increasing at a rapid pace. In other words, in India on an average every insurance company loses 8.5% of its revenues to the frauds. This means that the profit of insurance companies is being eaten up by various persons, many are connected with this Industry directly, many are clients and then there are large numbers of criminals. Indian Government, IRDA (The Regulator), many other Government Agencies and all Insurance Companies are anxious to bring Insurance Frauds under control so that the benefits in the form of reduced premium, higher profits, and higher tax revenue to the Government can be utilized for the growth of the Indian Economy.
Fraud can occur at any stage of an insurance transaction. Various stakeholders who may be connected with Insurance frauds are:
  • Insurer Employees
  • Insurance Intermediates and their employees
    1. Insurance Brokerage Firm
    2. Insurance Marketing Firm
    3. Corporate Agents
    4. Agents
    5. Web Aggregators
  • Insurance Surveyors & Loss Assessors
  • Service providers to Insurance Companies
    1. Automobiles Workshops
    2. Health Care providers
    3. Third Party Administrators
  • Insurance Clients (Corporates as well as Individuals)
  • Criminals in association with anti-social elements
Objectives of the Training Programme:
For insurance frauds to be proactively addressed, insurers must train their staff in identifying the proposals, which give scent of fraud. The interaction among the stakeholders who will be present will result in interaction (high focus on questions & answers) so that they can understand.
  • How Insurance Frauds are being committed in India/ World?
  • Why top management should give due importance to screening at proposal stage so that watch is kept at fraud at every level - i.e. issue of policy to Claim Settlement?
  • Use of Forensic Science/ Modern Technologies/ Data Analytics as a necessity to track and blacklist fraudsters
  • Measures by the Surveyors to detect and identify characteristics that distinguish fraudulent claims from valid claims
  • Roles and responsibilities of management and staff in proactively reducing fraud, through prevention and controls.
  • Periodic reporting requirements to the regulator (IRDAI)
Topics to be covered:
During this Training programme high level of clarity will be achieved by discussing the following:
  • Insurance Frauds in the world and in India
  • Case Studies of Insurance Frauds in India
    1. Motor
    2. Health
    3. Life
    4. Marine
  • Case Studies on Insurance Frauds across the world
  • How Forensic Science/ Modern Technologies/ Data Analytics being used in Insurance Fraud Detection?
  • Legal Perspective about IPC: Is it capable of controlling the Insurance Frauds
  • Need for new Law to control the Insurance Frauds in 21st Century
  • What needs to be done for:
    1. India needs Insurance Fraud Control Act
    2. Formation of Statuary Body to collect data/ disseminate Insurance Frauds data
    3. Sharing of data of fraudulent people and cases centrally and on All India basis on real time basis and that too at low cost
    4. Is there role of Aadhaar/ PAN card in fraud Detection?
Who Should Attend the Training Programme (Target Participants)?
This Training program is a good opportunity for:
  • Insurance Company’s Senior Management/ Managers responsible for Business Strategy/ Fraud Control/ Claim settlement
  • Finance, Audit, Internal Audit and Legal staff who support insurance practitioners in keeping watch on frauds
  • Managers involved in the strategic overview of how to approach risk, fraud within the organization.
  • Insurance Surveyors & Loss Assessors
  • Third party Administrators and other Service Providers
  • Insurance Brokerage Firms/ Corporate Agents/ Agents
  • Law Firms
What you can expect from the Training Programme?
This training programme on Insurance Frauds Control will provide the participants with comprehensive, multifunctional perspective on how to:
  • Assess risk; comply with statutory procedures on management of claims while keeping an eye on Frauds.
  • To set, promote, monitor and enforce high standards of integrity, financial soundness, fair dealing and competence of those it regulates
  • To bring about speedy and orderly growth of the Indian Insurance Industry for the benefit of the common man/ Insurer/ Intermediates and to provide long term funds for accelerating growth of the economy
  • To ensure speedy settlement of genuine claims, to prevent insurance frauds and other malpractices and put in place effective Grievance Redressal Mechanism
  • Need For “Insurance Frauds Control Act”.
  • How we should reach Law Ministry, Government of India to initiate this process?
Eminent Faculty Conducting this Training Programme:
Our faculty comprises of people, who are highly experienced and are responsible for decision making & authority on Insurance Frauds in their organization. They are up to date in their knowledge.
Mr. S. G. Afzal Biya Bani, Senior Insurance Specialist, Al-Muhaidib Corporate, Dammam – Saudi Arabia   Mr. Thondup Tshering, Vice President. North, Futurisk Insurance Broking Company Ltd.
Mr. G.V.H.V Prasad, Director, Truth Labs, Hyderabad   Mr. Mathivanan Raju, Reputed Investigator for Motor Insurance claims, Vellore, Tamil Nadu
Mr. Sameer Nandwani, Lawyer, Specializing in Insurance  

Mr. Anshul Srivastav, Chief Information Officer & Digital Officer, Union Insurance Dubai

Mr. S. K. Sethi, Vice President, Insurance Foundation of India & Director, RIA Insurance Brokers Pvt. Ltd.  

Mr. Sandeep Malik, Independent Insurance & Risk Management Consultant

Ms. Neha Vikas Varsheney, Reputed Investigator for Health/Life Insurance Claims      
Traning/ Delegate Fee:
Participation fee (Includes Training, Study Materials & Lunch)
  • Individual participant fee: Rs. 3500/
  • Group participation fee (team of 5 persons and above): Rs.3000/-each.
  • Group participation fee (team of 10 persons and above): Rs.2750/-each
Note: Prior registration/ confirmation are requested to attend this Training Programme, so that Certificates/ Logistics/ Study Material & Lunch can be arranged accordingly.
Venue & Dates:
Duration: 1Day
Venue: PHD Chamber of Commerce and Industry, PHD House, 4/2, Siri Institutional Area, August Kranti Marg, New Delhi- 110016 (Nearest Metro station- Hauz Khas)
Date: Friday, 24 August 2018
Time: 09.30 am to 05.30 pm
This is non residential Training Programme; however reasonable hotels/ guest houses are available in surrounding areas such as Panchsheel Enclave, Hauz Khas, Greater Kailash & South Extension. Programme Coordinator will be ready to assist you in arranging the same (if required)
Certificates will be issued to the participants on completion of this Training Programme.
About the Organizers:
Insurance Foundation of India (IFI) is set up under Trust Registration Act 1882 of Government of India as a Not for Profit Organization. The main objective of IFI is to promote awareness of Insurance among masses. IFI has successfully organized various Executive Development Programmes/Skill development Programmes of International standards in India with world-class faculty.
Under CSR project supported by PNB MetLife India Insurance Company Ltd we produced a Film “Khushiyon Ki Suraksha” for spreading awareness of insurance in rural areas. It is available on
Our project “Bima Jagrukta Abhiyan” has been awarded Skoch Award as one of the 100 top Projects undertaken in India during 2016.
We are approved under 80G of the Income Tax Act 1961. IFI will be pleased to be associated with CSR Project to be undertaken by you.
Tailor Made Training Programme:
We will be pleased to conduct Training Programmes as per your requirement at your location. Let us know your requirement at
Please send the Registration to:
Ms. Shveta Kaushal
Programme Coordinator, Insurance Foundation of India
Om Plaza, 430/7, 1st Floor, Sant Nagar, East of Kailash, New Delhi – 110065
Mob: 7678689961 Email:
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