3 MYTHS ABOUT DIGITAL IDENTITY
Stop digital fraud
from hurting your bottom line, reputation, and operations. Digital identity is evolving.
Digital identity fraudsters are attacking insurers’ digital quotes & onboarding.
Sources: Federal Trade Commission, 2.22.2022.; Coalition Against Insurance Fraud, 2021 State of Insurance Fraud Technology Study; PaymentsJournal, Ari Jacoby, “A New Frontier of Fraud: Synthetic Identity Fraud,” 5.6.2022.
Why are insurers being targeted with digital fraud?
Online quoting has become essential to digital insurers’ success. But as the industry’s digital presence has grown, so has the target on its back: digital fraud is up 134% from Q1 2021 to Q1 2022 across the industry. That’s more than any other sector surveyed. Want more details on why insurers are easy targets? Check out the TransUnion Quick Guide below.
INDUSTRY | INSURANCE
Behavior vs. Biometrics:
Are you ready for the fallout?
As AI and machine learning evolve within biometric systems, the complexities are only increasing. Are you up-to-date on new definitions and regulations?
Identify risk and prevent fraud for insurers with behavioral analytics.
By analyzing how data is inputted inform forms in real-time, behavioral analytics enable insurers to increase friction for risky applicants and fast-track legitimate applicants.
Auto insurer catches quote bots using behavior
A top online digital insurance provider caught nefarious bots crawling their site. These bots were trying to triangulate rates provided by the insurer.
Stop spending on bad actors
Segment genuine customers from bad actors before applicants even press submit. NeuroID’s behavioral analytics and real-time API inform decisioning for insurers, lenders, fintechs and FI’s.
NeuroID doesn’t use, store, or collect PII.
Fraudsters can’t steal data that isn’t there. Because personal information on applicants isn’t collected, NeuroID gives peace of mind to insurers and provides a new lens into who’s who. Most PII is compromised, but behavior is impossible to fake.
