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P319
– PREVENTION OF INSURANCE FRAUDS & FINANCIAL
AUDIT & CONTROL (LIFE) Background: Employing the best
practices in the control and deterrence of Insurance Fraud can definitely
reduce the exposure to this problem and can favourably impact the
profitability of the companies. Consequent
upon liberalization, competitive environment and coming of Insurance
Regulatory and Development Authority, there is a great need to strengthen
internal control systems, various types of audit and reporting mechanism
to ensure financial discipline. Objectives
§
To
cover comprehensively the role of audit and control functions §
To
facilitate interaction between staff in the audit and operations
departments. §
To
avoid problems arising out of shortcuts in procedures §
To
know the modern and advanced techniques available in countering Insurance
Fraud Contents § How to counter Insurance Fraud – a general perspective §
Analysing
& Investigating Insurance
Fraud §
Insurance
fraud and legal aspects §
Handling
of fraudulent claims § Computer Audit § Claims Settlement - Early claims study § Strict implementation of Password security § Internal Audit - scope, coverage, appraisal/ evaluation of systems - methods and procedures in underwriting/ claims/investments/solvency and other financial areas. Inbuilt audit trails/consistency checks § Complementary responsibilities of Internal Audit and Vigilance Dept. §
Regulators’ expectations from the entire audit mechanism
so as to help them in on-site and off-site supervision § Creating awareness about the various types of frauds like Cheque frauds, Expense A/C fraud, Payroll fraud, Theft/misappropriation of assets etc. § Case Studies with regard to employees, Customers & others Participants’ Profile: HODs at D.Os of LIC, Sr./BMs of LIC and equivalent
cadre participants from Life Insurance companies Duration:
3 Days Dates:
I) 28.01.2008 – 30.01.2008 II) 17.03.2008 – 19.03.2008 |
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