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...Priyanka Parashar/Mint Fake claims are a huge problem for the Indian insurance industry. India reportedly has crime “syndicates” that focus mostly on insurance fraud. Such fraudsters identify individuals with terminal illnesses, promise their families a cut, pay minimum premium and even undertake all the paperwork. Cases range from fake certificates for a “Ms Sonia Gandhi” to sham funerals of unclaimed corpses. These syndicates know that insurance companies cannot verify the information of every single applicant. Annually, fraudulent claims cost an estimated Rs10,000 crore to the industry. Insurers are constantly trying to establish safeguards that can raise red flags during the claims processes. Many are applying advanced analytics, deploying eKYC (electronic know your customer) forms and automation to help identify cases of fraud. ...Live Mint on Sept. 29, 2017, 12:03 a.m.
...Previous high-profile global sporting events like the 2014 Fifa Football World Cup and the 2015 ICC Cricket World Cup had already pushed the boundaries of digitalization in the sports world.Not many, for instance, would be aware that a leading German technology giant helped the German football team win the 2014 Fifa World Cup in Brazil through the use of a software system called ‘Match Insights’.Similarly, regular sporting events like the English Premier League (EPL), Formula One or the Indian Premier League (IPL) have begun storing and leveraging big data to win the ultimate prize in their respective sporting discipline.We often hear about how data is being used by players to boost performance or even in the form of wearable technology. ...Live Mint on Sept. 25, 2016, 11:32 p.m.