The growing number of fraud cases in insurance has become a concern for all the stakeholders. In fact, the losses caused to the insurance sector due to frauds are estimated to be over Rs 30,000 crore annually, according to a report by the India Forensic Centre for Studies. Various industry estimates claim that the Indian general insurance industry alone might be losing between Rs 2,500 crore and Rs 3,500 crore in a year due to such frauds. But the fact is that such frauds can't be completely eliminated
