PROJECT REPORT

ON

FRAUDS IN INSURANCE
BACHELOR OF COMMERCE IN BANKING AND
INSURANCE

(SEMISTER VI)

Under the Guidance of

PROF. CHANDNI GERELANI

Submitted
In Partial Fulfillment of the requirement for the Award of the degree of
Bachelor of commerce in Banking and insurance

Submitted by,

SAURABH RAJENDRA HIRLEKAR

ROLL NO. 1628016

SHRI SIDH THAKURNATH COLLEGE

OF ARTS & COMMERCE

ULHASNAGAR – 421 004

UNIVERSITY OF MUMBAI 2016-017.

 DECLARATION

I, SAURABH RAJENDRA HIRLEKAR student of TYBCBI (Bachelor of Commerce in

Banking and Insurance Management) hereby declare that I have completed the Project
on “FRAUDS IN INSURANCE ".in the academic year 2016-17.

The information submitted is true and original to the best of my knowledge.

SAURABH R.HIRLEKAR
{T.Y.BBI}
 ACKNOWLEDGEMENT

My project is a result of the inspiring and thoughtful guidance and supervision of

my project guide PROF. CHANDNI GERELANI I am deeply indebted to her whose help,
time, support, inspiration, stimulating suggestions and encouragement helped me in all
the times of research and writing of this report.

This project has widened my horizon to various areas under general knowledge
regarding the practical and real aspects of “FRAUDS IN INSURANCE ".

I whole heartedly thank all the concerned people at college as well as at university level,
who have given me the chance for preparing this valuable project.

I would further like to thanks our Principal Sir Dr. J.C. Purswani for giving me an
opportunity to complete our Project

Last but not least, this Project has definitely helped me to achieve something which will
be useful to us in near future and hence I am thankful to all persons who have helped in
knowledge.
 OBJECTIVES

The mission is fulfilled by:

 Educating and increasing awareness among consumers, government

organizations, insurers and other stakeholders of the scope and impact of
insurance fraud as a means to:
1) Lower tolerance of fraud, and
2) Encourage and motivate greater engagement in the development and
implementation of potential solutions.

 Advocating laws, regulations and policies that help to detect, prevent, deter, and
prosecute insurance fraud and by seeking appropriate remedies. This will be
done through efficient, effective and practical initiatives.

 Serving as the preeminent source of insurance fraud information and expertise

and by conducting research to promote and support more effective and efficient
anti-fraud initiatives and activities.

 Strengthening and expanding the Coalition to effectively coordinate and engage

more individuals and organizations in combatting insurance fraud.
 EXECUTIVE SUMMARY

This project is prepared with the combination of theoretical as well as practical

knowledge and a blend of advice and suggestions from the research guide of the project.
Various theoretical books helped me in extracting the theoretical ingredient. For doing
anything rightly, it is necessary that one follows the correct method otherwise I won't be
able to achieve this goal properly.

In this project I define the introduction of Insurance and types, function and features of
Insurance.

I represent here my project topic that is Frauds in Insurance.

Here we will know about the Frauds in Insurance which performed in India, there types
and types which is done by Insurance regulations. Its gives a briefly knowledge about
Frauds in Insurance and their performing emerging trends.