Frauds are becoming a real problem for insurers in India, so much so that some insurance companies have blacklisted certain pin codes and turned down requests for insurance from these areas. The costs of such frauds are real, even for genuine buyers. Fraud is bad for the entire system. It causes people to lose trust, encourages crime, and makes products more expensive for genuine customers. Regulators need to set aside their turf issues and invest in a joint big data venture that will work to identify and catch these frauds. This book provides an analytical study of the modus operendi of frauds, fraudsters and the rules governing the fraud scams.
Jagendra Rana graduated in LL.B from University Studies in Law, University of Rajasthan, Jaipur in 1980 with a Fellowship from Insurance Institute of India Mumbai in 1992. He is an insurance veteran with a versatile experience of General and Life Insurance. He has been a CEO of Pearl Insurance Brokers and Corporate head of training at Shriram General Insurance Co. Ltd. He carries with him over 40 years of experience in the Insurance Industry at various top positions. He was conferred with the S.K. Desai Memorial Award two times for his Research Papers by III Mumbai. He was also a resource person in the International Seminar on Insurance Frauds conducted by Osmania University, Hyderabad. Many bestsellers of Mr. Jagendra Rana, on Life and Non-Life Insurance, Spirituality, Marketing and Management, are available online (on Amazon, Flipkart, Shopclue, Bluerose). 22 of his best sellers are: Live in the Present, Believe in Yourself, Insurance Distribution Channels, Life Insurance in Digital India, Insurance of Motor Vehicles, Settlement of Insurance Claims, Giving is Living, Why to buy Life Insurance, Lord Krishna-The Ultimate Management Guru, Third party Liability in Motor Vehicle Accidents, Lord Rama: The Great Corporate Leader, Bottom line of Crop Insurance, Nothing is Impossible, Nuts & Bolts of Non-Life Insurance, Insuring the Uninsured, How to buy Health Insurance, Reinsurance Simplified, Lord Hanuman - An epitome of Leadership, Saheb - The Master of the Millennium, Insure your Life First, Insurance for Common Man, & Cyber Insurance!