False claims, a big worry for health insurers

The high incidence of fraudulent claims is becoming a big concern for the health insurers as it leads to huge losses. About a quarter of the health insurance payout goes towards fraudulent claims, if one goes by the industry version.

It is estimated that health insurance portfolio has crossed Rs 50,000-crore mark in 2012-13, though the data is yet to be officially put out.

“The biggest fear for us is that 25 per cent of claims are turning out to be false,’’ Rajiv Kumar, Chief Actuary, Bharti AXA Life Insurance told Business Line.

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