BudgetSpeak #13: Amarnath Ananthanarayanan: Need for a common fraud detection agency

08 Jul,2014

By Dr Amarnath Ananthanarayanan

 

The Union Budget 2014-15 comes with a lot of promise. The motive of the new government is to boost the economy even if that requires some tough short-term measures. There are common expectations on the Budget expressed by the industry on multiple aspects including Motor Third Party de-tariffing, Taxation, FDI in insurance, creation of a Nat-Cat pool, and common insurance database pool including a common fraud detection agency.

 

The only additional aspect which is not entirely Budget-related though is to get General insurance industry to the forefront and get it a seat on the table on all discussions and actions in the area of financial inclusion.

 

Dr Amarnath Ananthanarayanan is CEO and MD, Bharti AXA General Insurance​

 

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