Industry brief: Prevent application fraud and detect false claims

Trust is the cornerstone of any insurance contract, a promise to protect policyholders when the unexpected happens.

Policyholders have high expectations when it comes to secure, easy access to their insurance policies across all channels at all times. If there is too much friction at policy application, underwriting, account login or even claim processing, customers can easily click over to a competitor offering a smoother experience.

And while policyholders have high expectations for a streamlined experience, insurance carriers must also consider the realities of rising fraud and new regulatory mandates for stronger customer authentication.

This content looks at how insurers can balance the competing demands of catching fraud, authenticating good customers, and providing outstanding user experience.