Submitted by

Bajaj General Insurance

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12/04/2023 Insurance Innovation
Understanding the need to curb the fraudulent activities, BAGIC conducted a thorough research of the methods which can be adopted to minimize fraudulent acts. Project Anveshak consists of multiple work streams spanning across line of businesses to drive cross functional initiatives and enabler development across company.
Innovation details
Country
India
Category
Insurtech
Keyword
Data, Automated Inspection, Risk management

Innovation presentation

Integration with various external data sources e.g. E-Court, Parivahan, CIBIL, BAGIC checks criminal/vehicle/financial background of the insured. For an insurance investigation purpose, information about past antecedents, involvement in criminal, civil, financial or vehicle related issues and legal troubles of the insured indicates the direction in which the investigator can choose to head to further investigate. Apart from this, BAGIC is also making efforts to create an ecosystem of fraud awareness by leveraging synergies between multiple communities like Academia, Industry, Bureau, Local/District/State Administrations, Social Influencers, and Customers etc. along with additional focus towards more vulnerable sections of societies like senior citizens on Fraud Awareness. In addition, BAGIC celebrates Fraud Awareness campaigns by engaging communities through webinars, blogs, teasers, do and don’ts and awareness contents to customers through social media.

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