Business News
Celebrating International Fraud Awareness Week 2024: Combating Insurance Fraud Together
Nov 21, 2024
Pune (Maharashtra) [India], November 21: As we enter the International Fraud Awareness Week 2024, it's an opportune moment to reflect on the critical issue of insurance fraud along with the collective efforts required to combat it. The general insurance sector is intricately linked to most of the industries, such as infrastructure, automotive, healthcare, agriculture, and society as a whole. It is pivotal in strengthening the economy by providing essential financial security to individuals and businesses. Understanding why people hesitate to buy insurance despite its advantages is crucial. Why does the industry, despite a combined ratio exceeding 100%-indicating it pays out more in claims than the premium it earns-still face scepticism about its willingness to pay claims?
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