Seventeen Microinsurance MBAs created their Anti-Fraud plan
Seventeen anti-fraud plans were formed together in a three-day writeshop organized by RIMANSI for the member Microinsurance MBAs last August 21-23 in Katipunan, Quezon City.
The workshop aims to assist the Mi-MBAs in forming their own customized anti-fraud plan, putting together the existing practices in an anti-fraud policy. Thirty-five participants composed mainly of General Managers, Compliance Officers, and Senior Staff worked together in varied group activities to brainstorm the policies that needs to be written down in order to steer clear of fraud in all aspects of the operations.
Wilfredo Llanto, Financial Consultant and RIMANSI Independent Director, acted as the main resource person of the writeshop. He outlined and drafted the draft manual which was then divided for the three-day discussion.
Through plenary sessions and group presentations, fraud concept, operations cycle and related fraud prone areas, categories of fraud, reporting process and referral for action were put into a manual to serve as the guide of Mi-MBAs in avoiding and managing fraudulent acts. The Mi-MBAs were given ample time to work on their individual manuals.
RIMANSI organized the said writeshop to promote fraud-free Mi-MBAs and to encourage vigilance in such circumstances. The event was organized mainly in compliance with the Insurance Commission Circular Letter 2016-50: Guidelines in the development of Anti-Fraud plan for Insurance Companies mandating the covered institutions to make and submit anti-fraud plans to the Commission.