A woman Defrauded 4 insurance companies of Rs.1 crore in Mumbai

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In a startling development, reports have emerged of a woman, Kanchan Pai, allegedly working in collaboration with her husband Rohit, son Dhanraj, and a doctor named Ashutosh Yadav, orchestrating a scheme to defraud four insurance companies, amounting to over ₹1 crore.

Modus Operandi

According to the police First Information Report (FIR), a woman residing in Bhayander, a suburb of Mumbai, purchased insurance policies from four different companies using two distinct identities: Kanchan Pai and Pavitra. The cumulative value of these policies totaled approximately ₹1.1 crore.Subsequently, the family purportedly declared the woman deceased, and then proceeded to file insurance claims using falsified death and cremation certificates.

Current Status

At present, all four individuals implicated in the alleged scam are evading authorities. The four insurance companies involved—Max Life, Bharti AXA, HDFC, and Future Generali—reportedly disbursed a total of ₹70 lakh between 2021 and 2023.

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Uncovering the Fraud

The illicit activities came to light when discrepancies were noticed by one of the insurers during the processing of a separate claim amounting to ₹41 lakh. This prompted an internal investigation, ultimately leading to the exposure of the fraudulent scheme.

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