IRDAI has issued Insurance Regulatory and Development Authority of India (Insurance Fraud Monitoring Framework) Guidelines, 2024. Insurance Fraud Monitoring Framework has been reviewed and a comprehensive insurance fraud monitoring framework guidelines for the insurance sector is drafted.
Drawing insights from practices followed by other financial sector regulators and international best practices in this domain, the draft provides an enhanced framework that includes advanced measures for fraud detection, efficient fraud handling, robust fraud prevention, and other relevant aspects.
The draft guidelines on the revised insurance fraud monitoring framework are placed for comments/suggestions of the stakeholders and public. Comments / suggestions on the proposed guidelines may be submitted to sdd@irdai.gov.in in the given format on or before 13th November, 2024.
