Tata AIA Life Insurance executive booked for fraud; death claims raised for living policyholders

Bengaluru: Police have booked an executive of Tata AIA Life Insurance Company Ltd on charges of cheating and forgery after it was found that fraudulent death claims were raised despite policyholders being alive.

The case was registered on a complaint by the company’s legal officer.

The accused, Siddharth R, who joined the company in 2007 as a claims executive and later became a senior manager with a private investigation agency, was responsible for engaging third-party agencies and recommending death claims.

Police said he allegedly misused his position and, with the help of agents and associates, diverted premium amounts and processed false death claims by submitting forged documents, manipulating records and fabricating reports to show insured persons as deceased.

The fraud came to light during an internal audit in September 2025, which found that the accused had been involved in the malpractice since 2019, causing significant losses to the company.

He was summoned on September 22 and his official laptop was seized. During the inquiry, he allegedly admitted in writing to misappropriation and falsification of records. He was suspended the next day.

Based on his admission, police registered an FIR and are investigating the extent of the fraud and the involvement of others. The documents have been verified, and a notice will be issued to the accused for further legal action, police said.