Behavior Secures Growth for Top Insurers
Why premier insurers and global financial institutions use behavior to catch fraud, convert more genuine customers, and reduce identity operations costs.
Human Digital Behavior
Human digital behavior—how an online user navigates a form when entering personal information they should know—yields insight into whether or not someone is who they claim to be. Human digital behavior is untapped knowledge for banks and financial institutions. With behavior, they can assess the actual human being in real-time,and not just assess the applicant’s data.
This same behavior knowledge dramatically improves the account opening processes, which are more efficient, yield greater conversion, and are more profitable as a result.
Behavioral analytics from NeuroID are a key part of account opening at the premier financial institutions of the world.”
Using Behavior Unites Three Different Teams Across the Insurer
FRAUD TEAMS.
Risk Officers at top insurance companies use behavior to see fraud faster, even before an applicant presses submit.
Also, behavior is a unique lens that often catches fraud that otherwise slides through a traditional fraud stack.
REVENUE TEAMS.
Behavior streamlines truthful applicants’ experiences. This reduces abandonment rate and improves conversion rates on new account acquisition among true users.
No previous information on the applicant is necessary to realize conversion benefits.
FINANCE TEAMS.
The earlier that applicants can be identified, the more money a business saves.
Be precise with your identity checks. Don’t spend on a credit data call for a fraudster. Send fewer applicants to manual review.
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