2nd Annual Insurance Claims and Fraud Detection India Summit 2024
Over the past two decades, India's insurance industry has seen remarkable growth, fueled by increased private sector involvement, enhanced distribution channels, and significant operational improvements. This competitive environment has driven the creation of innovative insurance products. However, the industry continues to grapple with the persistent issue of insurance fraud, which can occur at any stage, from policy issuance to claims settlement. Common fraudulent activities include false claims, inflating claims, and providing incorrect information to secure lower premiums or higher coverage.
The global insurance market is expected to see a real-term growth of 7.1%, with India emerging as the fastest-growing sector among G20 countries. The country's insurance premiums will outpace global (2.4%), emerging (5.1%), and advanced (1.7%) market averages, supported by an anticipated annual GDP growth of 6.7% over the next 8-10 years.
To further bolster the sector, India is implementing a series of regulatory changes aimed at enhancing insurance penetration, increasing capital inflow, improving valuations, and welcoming small, specialized, and niche players. The regulatory body is also pushing for reforms to position India as a reinsurance hub.
Inventicon's 2nd Annual Insurance Claims and Fraud Detection Summit promises a comprehensive exploration of the future of insurance. Attendees will gain insights into the latest tools and techniques for fraud mitigation, learn from best practices and case studies on successful fraud detection, and address the growing concern of cyber fraud during this engaging two-day event.
THOUGHT LEADERS
Ashish Lakhtakia
General Counsel, Chief-Regulatory Affairs and Company Secretary
Future Generali India Insurance Co. Ltd.
Dr. Pankaj Srivastava
Head - Fraud Waste and Abuse & Head Claims Litigation
Aditya Birla Health Insurance Co. Ltd.
Sanjiv Dwivedi
President and Head - Investigation & Loss Mitigation
Bajaj Allianz General Insurance Co. Ltd.
Supriyanka Sareen
Head - Underwriting and Medical Network and Claims Transformation
Max Life Insurance Co. Ltd.
Jayashree Singh
Senior Vice President - Underwriting & Claims
Kotak Mahindra Life Insurance Company Ltd.
Krunal Shah
Assistant Vice President - Fraud Prevention and Control Units, Internal Assurance
Max Life Insurance Co. Ltd.
Rajiv Mirani
Vice President - Control & Strategy Customer Service Motor Claims
ICICI Lombard General Insurance Co. Ltd.
Sarang Gokhale
Executive Vice President and Chief Underwriting
ICICI Prudential Life Insurance Co. Ltd.
KEY TOPICS
- Post pandemic transformation in the insurance industry
- Cognitive technologies re-shaping the insurance
- Transformative era with the integration of AI & ML
- Re-imaging CX & customer management journey in insurance
- Approach to reinsurance strategy and innovation
- Revolution of AI for detecting fraud in financial transactions & process
- Implementing compliance programs to identify hospital frauds
- Implementing compliance programs to identify frauds
KEY TAKEAWAYS
- Shaping by various technological advancements and evolving customer expectations throughout the claims journey
- Techniques and approaches to prevent fraud using AI & ML
- Monitoring and adapting of technology to stay ahead of fraudsters
- Refinement and adaptation to fraud management techniques
- Aiming for a streamlined and user-friendly KYC process that effectively mitigates fraud risks
- Overview of fraud in financial transactions and strategies to overcome it.
- Enhancing fraud detection process which effectively analyze the red flag indicators
- To uncover the truth and take appropriate actions to address the fraudulent activities and mitigate future risks.
- Focusing on creating positive interactions and key requirements for CX behavior
WHY SHOULD YOU ATTEND ?
- To gather knowledge and Insights on Insurance
- Building relationships with peers and industry experts can open doors to new opportunities, collaborations, and potential partnerships.
- Strategies to achieve positive outcomes
- Contribute to professional development and learning about the latest tool & technologies
- Staying ahead with latest regulatory changes
- An ideal platform to industry trends and Innovation
- Insights into company benchmarking and enhancing customer satisfaction.
- Enhanced credibility within the industry and showcase professional recognition
- Contributing to professional growth, improving processes and opportunities for career advancement.
WHO SHOULD ATTEND?
- Head of Claims
- Head of Fraud Management, Prevention
- Head of Legal & Compliance
- Chief Risk Officers
- Head of Underwriting
- Head of Investigations
- Head of Internal Audit
- Head of Enterprise Risk & Operational Risk