DETERMINANTS OF INSURANCE FRAUD AND ITS IMPACT ON THE FINANCIAL PERFORMANCE OF THE INSURANCE COMPANIES IN INDIA / GOSWAMI YASH RAKESHBHAI.
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TextPublication details: Kuala Lumpur : Asia Pacific University, 2020Description: 105 pages : illustrations ; 30 cmSubject(s): Insurance fraud | Financial services industry -- India | Insurance -- India -- ManagementLOC classification: PG-24-0171Online resources: Available in APres - Requires login to view full text. Dissertation note: A project submitted in partial fulfillment of the requirements of Asia Pacific University of Technology and Innovation for the degree of B.A. (Hons) in Accounting and Finance with specialism in Forensic Accounting (UC3F11911AF(FA)). Summary: The purpose of this research is to determine the determinants of Insurance fraud & examine the relationship between ROA & Internal fraud, Policyholder fraud, Intermediary fraud. This study was carried out specifically among the employees/brokers working in the Industry in Gujarat, Maharashtra, states of India. The data was collected using google forms due to location difference. Multiple regression analysis was performed to examine the relationship between ROA as a dependent variable & Internal fraud, Policyholder fraud, Intermediary fraud as independent variables.
40 responses were made which indicates limited sample size. This was specifically due to lock down situation in the wake of Covid-19 which restricted the contact to employees of the organization. However, the results found that Intermediary fraud has significant relationship with the Return on Assets (ROA). Other independent variables such as internal fraud & policyholder fraud found positive relationship with ROA. Based on Cronbach’s alpha, F test for overall significance, Pearson’s correlation, Multiple coefficient determination the relationship was found positive with ROA. The T-test was used & found intermediary fraud as significant while policyholder fraud & internal fraud as not significant due to limited sample size. All the determinants in this study explains 40% of the effect on ROA.
The findings in this study has found that all three variables in this study have very positive relationship with the dependent variable. Despite, hypothesis regarding internal fraud & policyholder were not be able to prove due to insufficient sample size. Other studies have used the same determinants in their research. Based on that evidence, it was found that all three variables have an impact on ROA. Intermediary fraud has a significant impact on ROA.
Recommendations were made by supportive statements from Insurance authorities of India which will help to make fraud assessment system more robust.
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Reference
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APU Library Reference Collection | Undergraduate Theses | PG-24-0171 (Browse shelf (Opens below)) | 1 | Not for loan (Restricted access) | Available in APres | 00018752 |
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A project submitted in partial fulfillment of the requirements of Asia Pacific University of Technology and Innovation for the degree of B.A. (Hons) in Accounting and Finance with specialism in Forensic Accounting (UC3F11911AF(FA)).
The purpose of this research is to determine the determinants of Insurance fraud & examine the relationship between ROA & Internal fraud, Policyholder fraud, Intermediary fraud. This study was carried out specifically among the employees/brokers working in the Industry in Gujarat, Maharashtra, states of India. The data was collected using google forms due to location difference. Multiple regression analysis was performed to examine the relationship between ROA as a dependent variable & Internal fraud, Policyholder fraud, Intermediary fraud as independent variables.
40 responses were made which indicates limited sample size. This was specifically due to lock down situation in the wake of Covid-19 which restricted the contact to employees of the organization. However, the results found that Intermediary fraud has significant relationship with the Return on Assets (ROA). Other independent variables such as internal fraud & policyholder fraud found positive relationship with ROA. Based on Cronbach’s alpha, F test for overall significance, Pearson’s correlation, Multiple coefficient determination the relationship was found positive with ROA. The T-test was used & found intermediary fraud as significant while policyholder fraud & internal fraud as not significant due to limited sample size. All the determinants in this study explains 40% of the effect on ROA.
The findings in this study has found that all three variables in this study have very positive relationship with the dependent variable. Despite, hypothesis regarding internal fraud & policyholder were not be able to prove due to insufficient sample size. Other studies have used the same determinants in their research. Based on that evidence, it was found that all three variables have an impact on ROA. Intermediary fraud has a significant impact on ROA.
Recommendations were made by supportive statements from Insurance authorities of India which will help to make fraud assessment system more robust.
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