Kutty Story

 

Once a man consulted the astrologer and found out the exact time and day of his death, he was a sculptor and a very skilful at his talent. he made nine clay models of himself and painted them and dressed them exactly as he was, No one could tell the difference as they all looked like the sculptor.

That fateful day Yamaraj arrived and he couldn't believe his eyes when he saw ten similar-looking clay models in a row and sculptor standing among them. Puzzled he thought " this man is going to be the first person trying to cheat death".

But Yama is one of the *twelve Mahajana's extremely intelligent, he said:" Whoever has done this reflects lousy workmanship, I have seen better work than this."

This was enough to upset the sculptor since he was the best in his craft, he could not remain silent and he said:" What do you mean?" and gets caught.

Moral of the story: One cannot escape from the laws of nature in spite of the best material and intelligent arrangements.

*Bhagavata Purana (6.3. 20-21) lists twelve Mahajanas, biggest devotees of God Vishnu and knowers of Bhagavata-dharma. They are Lord Brahma, Narada, Shiva, the four Kumaras, Kapila — the son of Devahuti, Svayambhuva Manu, Prahlada, Janaka, Bhishma, Bali, Śuka, and Yama.

People do not try to cheat death these days but the easy money through various financial frauds and which brings me back to the subject of Insurance and Frauds, most of the western countries have Insurance fraud laws in place to fight these crimes.

Some of the latest articles published on Insurance frauds by various experts can be referred through the following links:

https://economictimes.indiatimes.com/wealth/personal-finance-news/insurance-frauds-how-data-analytics-and-rigorous-checks-are-trying-to-eliminate-bogus-claims/articleshow/73512970.cms

https://www.businesstoday.in/opinion/columns/insurance-frauds-control-act-an-urgent-need-in-india-fraudulent-claims-indian-penal-code/story/400212.html

Smart and Intelligent criminals from cybercriminals to Insurance scammers defraud Insurers in billions of dollars around the world. It is estimated that such frauds have set back Insurers by about 45,000 Crores in India alone.

• Typical Insurance frauds;

1. Individuals scamming their own insurance for personal gains
2. People collaborating to defraud insurance together
3. Elaborate schemes set up by third parties to scam both the insured people and the insurers in a claim.

• IRDA classifies them into Hard Frauds and Soft Frauds:
•  Hard fraud occurs when someone deliberately plans or invents a loss such as a theft of a motor vehicle or setting fire to property covered by an insurance policy. Soft frauds are more common and include exaggeration of legitimate claims by policyholders.

• New fraud detection technologies are the YAMARAJ for fraudsters, quoting few for reference:
• 
  
•  Big Data and Analytics: It is an efficient way to structure a large amount of collected customer data to make meaningful analysis and design actionable on it.
• Blockchain Technologies:  In simple terms, it is the shared and automated system of keeping records, which is hackerproof and cheaper.
• Robotics: Use of drones for claims survey.

Eternal Moral of the story: One cannot escape from the laws of nature in spite of the best material and intelligent arrangements.