Insurance experts feel the percentage of fraud claims in India is high

India is one of the biggest markets for insurance companies across the world. 64% of Insurance fraternity in our survey with 200 insurance experts felt that insurance frauds are unusually high in India. This is alarming and was confirmed in our secondary research which highlights that the Indian insurance industry loses close to $6 billion (Rs.42,000 crores) to insurance fraud in India. This works out to about 8.5% of all the premiums collected every year.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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