Fraud Analytics for Insurance and Banking Professionals

Globally, fraud is rising at a higher pace than we imagine. In general, the global estimate for fraud in companies is approximately 5-10% of revenue, however, the situation has become much worse recently. The rising failure of companies have created need to have Fraud Risk Management department. Many companies have now employed more than 200 employees and over 500 field employees working in the department. Are they getting enough value from this department and how? Such interesting case studies reveal value of effective Fraud Risk Management for insurance and banking sector. Avoidance strategy is not working at all. It’s a relatively new subject and due to lack of research and confidential information, the topic is less discussed till now. General approach to understand Fraud Risk Management is to focus upon Corporate Governance and Risk Management principles. However, during our extensive research on the subject, new insights on the subjects have been found. Companies have brought strategic change to implement fraud risk management. New role of middle managers emerged. Expertise and awareness about subject is important. A few companies have developed risk rating engines to assess fraud risk. There is no point in reinventing the wheel. The experience and learning from the cases and latest research will add to your knowledge in this MDP. A particular focus will also be provided on Fraud Risk Management from analytics perspective and how it is useful in loss minimization. It will enhance the skills of experienced fraud specialist, professionals, and risk and compliance managers working in IT, banking and insurance industry

Objectives

This MDP program will focus on challenges confronted by firms in managing fraud from risk management 
and analytics perspective. Over three days program, you’ll investigate real-world case studies and gain 
valuable insights from industry experts along with academics as you create a road map for managing fraud 
in cost effective manner. 

  • To construct analytics fundamentals 
  • To discuss case studies in fraud analytics 
  • To understand how regulators are using fraud analytics 
  • Formulate implementation program of fraud risk management
  • Case studies from Banks
  • Case studies from Insurance companies 

Contents

  • Fundamentals of insurance and banking
  • Fraud Risk Management 
  • Fraud Risk Analytics and case studies
  • Solo and collusive fraud 
  • Dealing with False negatives and False positives
  • Data mining 

For Whom

  • Executives of banks, financial institutions, insurance brokers, reinsurance broking firms, insurance companies and reinsurance companies
  • Middle level managers and executives responsible for managing fraud 
  • Business consultants and consultancy firms looking to better advise clients and offer new products
  • Risk management and business continuity specialists
     

Venue & Duration

The programme is scheduled during October 17-19, 2024 on a residential basis at MDI Gurgaon Campus, Mehrauli Road, Sukhrali, Gurugram. Accommodation for participants would be available at MDI Gurgaon Campus from the noon of October 16, 2024, to the forenoon of October 20, 2024.

Registration & Fees

Participants should be nominated by their organizations. The enclosed nomination form should be completed and returned with all the details. The fee of the program is Rs. 42,500/- (Rupees Forty Two Thousand Five Hundred only) per participant which includes a professional fee and all charges for boarding, lodging and supply of course materials during the programme. GST as applicable will be charged extra in addition to the programme fee. Payment should be made by Cheque/NEFT/RTGS.

Discount Policy

With a view to our long-term relationship with your esteemed organization, we are pleased to introduce the discount policy in this programme. The discount will be observed in the following conditions: (discount is applicable in NEPAL also)

  • 10% Discount against 3-5 nominations
  • 20% Discount against more than 5 nominations

 

Important Dates

The last date for receipt of nominations is October 03, 2024. The last date for withdrawal of nominations is October 04, 2024. Any withdrawal received after this date will be subject to deduction as per the Institute’s rules. However, substitution may be permitted.

For enquiry, please contact at [email protected] or +91-124-4560008.