Page 41 - Insurance Times December 2019

Full Day Training Programme on

"Insurance Frauds - How to Control

it?"

R ealizing the need and importance for Insurance Good outcome of the Training Programme was that, each

Training well known NGO of the country Insur-
stakeholder could appreciate the view point of all other
ance Foundation of India has been Conducting
stakeholders.
Insurance Training Programmes on regular and
monthly basis in New Delhi. Full day training Eminent Faculty which conducted this well thought
programme on "Insurance Frauds - How to Control it?" was training programme comprised of:
organized successfully on Friday, 20 September 2019 at Y Mr. S. K. Sethi, Founder &Vice President, Insurance
PHD House, New Delhi. There was a tremendous response Foundation of India
from Insurance Companies, Insurance Brokerage Firms,
Y Mr. S. G. Afzal Biya Bani, Senior Insurance Specialist,
Insurance Surveyors, Investigators & Detectives, Managers/
Insurance Head (from industry who buy insurance), Cor- Al-Muhaidib Corporate, Dammam - Saudi Arabia
porate as the need for training on this topic was being felt Y Mr. G. V. H. V. Prasad, Director, Truth Labs, Hyderabad
by those, who wished to upgrade their skill in various as-
Y Mr. Amjad Khan, Associate Vice President, Risk Con-
pects of Frauds being committed in Insurance Industry. trol, ICICI Prudential Life Insurance Co. Ltd. Mumbai
One of the points highly appreciated by all participants was Y Mr. Rakesh Kumar, Additional Director, Management
that no one realized that Insurance Frauds figure has reached Development Centre, LIC of India, Mumbai Formerly,
a high figure of Rs 45000 Crores in the country and is now Chief Vigilance Officer, The Oriental Insurance Company
affecting very large number of genuine insurance clients. Y Mr. Naveen Tandon, Vice President - Motor, HDFC
ERGO General Insurance Company Ltd.
Y Mr. Thondup Tshering, Formerly, Marine Underwriter,
Tata AIG General Insurance Company, Vice President,
AON, Marsh India Insurance Brokers Pvt. Ltd.
Y Mr. Nirmal Paul, Head - Fraud Prevention Unit, Bajaj
Allianz Life Insurance Company Limited, Pune.
Y Mr. Sandeep Malik, Independent Insurance & Risk
Management Consultant

Y Mr. Sameer Nandwani, Lawyer, Nandwani & Associates
Y Mr. E. Sridhar, General Manager, Shriram Life Insur-
ance Company Ltd.

Mr. S. K. Sethi, Vice President, Insurance Foundation of
In the photograph we can see some of Faculty Members (from India & Director, RIA Insurance Brokers Pvt. Ltd. covered
left to right): Mr. S. K. Sethi, Founder & Vice President, Insur- the topic "Importance of Controlling Insurance Frauds to
ance Foundation of India, Mr. S. G. Afzal Biya Bani, Senior In- save Indian Insurance Industry."
surance Specialist, Al-Muhaidib Corporate, Dammam - Saudi
Arabia, Mr. Rakesh Kumar, Additional Director, Management
Development Centre, LIC of India, Mumbai, Formerly, Chief According to him, In India on an average every insurance
Vigilance Officer, The Oriental Insurance Company. company loses 8.5% of its revenues to the frauds. This

The Insurance Times, December 2019 41