IAI SP6 study guide
IAI SP6 · Work through your exam, one topic at a time.
SP6 is a specialist module of the Insurance Institute of India (IAI) focused on insurance fraud: how it is defined and classified, the legal and regulatory framework that governs it, the red flags that appear in underwriting and claims, investigation and evidence handling, interviewing and statement taking, fraud risk management and controls, data analytics and detection technology, and the ethical and professional standards expected of a fraud examiner. It suits claims handlers, underwriters, fraud investigators, compliance and risk staff, and internal auditors who need a structured, India-specific grounding in detecting, investigating and deterring insurance fraud. The IAI SP6 study guide has 9 sections and about 2,621 words.
01Insurance Fraud: Terminology, Typologies and Scale
This domain tests whether you can name, classify and size insurance fraud accurately. Examiners reward precise vocabulary and a critical reading of statistics; they penalise loose use of the word "fraud" for any inaccuracy.
355 words, about 2 min02Legal and Regulatory Framework for Fraud
This domain tests the criminal offences, the civil and contractual consequences, and the regulatory and data-protection obligations that surround an insurance fraud case. You must be able to match a scenario to the right legal route.
381 words, about 2 min03Fraud Indicators and Red Flags in Underwriting
This domain tests whether you can spot deception at the proposal stage, before cover is granted. The exam rewards indicator-based reasoning and a clear understanding that a red flag is a trigger for enquiry, not a finding of fraud.
341 words, about 2 min04Fraud Indicators and Red Flags in Claims
This domain tests your ability to separate suspicious claim features from innocent explanations, across motor, property, liability and life/health claims. Examiners want structured indicator reasoning and proportionate next steps.
299 words, about 1 min05Investigation Methods and Evidence Handling
This domain tests how to investigate proportionately, lawfully and evidentially. The exam looks for a structured investigation plan, correct evidence handling, and awareness of the legal limits on a private insurer.
277 words, about 1 min06Interviewing and Statement Taking
This domain tests structured, fair interviewing and accurate statement production. Examiners reward the PEACE framework, open questioning and evidential discipline; they penalise leading questions and poor records.
262 words, about 1 min07Fraud Risk Management and Controls
This domain tests governance, not just detection. Examiners expect a control framework, a risk appetite and measurable outcomes, and they reward awareness that controls can harm honest customers if poorly designed.
238 words, about 1 min08Data Analytics and Fraud Detection Technology
This domain tests how analytics is used to find fraud and how it is governed. Examiners want technique names, data sources and an understanding of model limitations, including legal constraints.
245 words, about 1 min09Ethics, Conduct and Professional Standards
This domain tests judgement under pressure: how to investigate, share data and treat customers ethically while still controlling fraud. Examiners reward proportionality, fairness and awareness of vulnerability.
223 words, about 1 min