Insurance fraud: How a Mumbai woman ‘dies’ twice to scam 4 insurance companies worth crores
Insurance fraud: How a Mumbai woman 'dies' twice to scam 4 insurance companies worth crores
The four insurance companies affected were Max Life, Bharti AXA, HDFC, and Future Generali.
June 3, 2024
A family from Mumbai managed to deceive four insurance companies, obtaining over ₹1 crore through fraudulent claims. The key perpetrators, Kanchan Pai, her husband Rohit, their son Dhanraj, and a collaborating doctor, Ashutosh Yadav, orchestrated the elaborate scam.
According to the police FIR, Kanchan Pai, using the alias Pavitra, bought insurance policies from Max Life, Bharti AXA, HDFC, and Future Generali, amounting to approximately ₹1.1 crore. After purchasing the policies, the family declared Kanchan dead and submitted fake death and cremation certificates to claim the insurance money.
Between 2021 and 2023, the insurance companies disbursed ₹70 lakh based on these fraudulent claims. The scam came to light when one of the insurers noticed discrepancies while processing an additional claim of ₹41 lakh, prompting an internal investigation. The first reported fake death occurred on October 11, 2021, with Kanchan’s son, Dhanraj, submitting documents that led to a payout of ₹20.4 lakh after verification. Another insurer settled a claim of ₹25 lakh for the same ‘death’.
On October 20, 2023, another death was recorded under the name Pavitra, with Rohit, the husband, receiving ₹24.2 lakh. However, an audit in January 2024 raised suspicions due to inconsistencies like the same address but different names of the insured, prompting insurers to exchange information and uncover the fraud.
Realizing their scheme was exposed, the family absconded. Bhayander police suspect the involvement of more individuals, including insiders from insurance companies and municipal offices. A police complaint was filed against Kanchan and her accomplices for criminal conspiracy, cheating, and forgery. Investigations revealed Kanchan used two separate Aadhaar and PAN cards to secure policies from five private insurance companies.
