The loss to fraud for insurance companies in India in 2011 amounted to 9 percent of the total size of the industry that year.  

Give or take, this figure would be on a par with the figure in the UK industry, Europe's biggest and the world's third largest.  It's a reminder that fraud, wherever it takes place, is as corrosive as ever.

The article goes onto say how a data analytics systems can nip fraud in the bud, when it can tackle unstructured as well as structured data. 

Suffice to say, there's a host of additional benefits it can add to insurance, including customer intimacy, uncharted (and yet very exciting), until now.