Insurance companies, both life and general, could soon have a holistic database that can be used to track fraudsters and reduce the turnaround time in policy issuance and claims. On the general insurance front, General Insurance Council and LexisNexis Risk Solutions India are working with companies to bring out a fraud repository while on the life front a few of the companies are coming together to share data.
Shivakumar Shankar, Managing Director, LexisNexis Risk Solutions India, said that they are currently involved in the process of onbarding the insurers. In life insurance, nine insurers are on board. "Insurers are in various stages of onboarding data on to the website.
