Smarter, Faster Fraud Decisions for Life Insurance & Annuities
In today’s digital world, no business is immune to identity fraud. As financial institutions invest more in fraud detection and prevention, cybercriminals are focusing their attention on other targets. Life & annuity carriers are especially vulnerable because their clients tend to have a higher net worth and monitor their accounts infrequently. The challenge with identity fraud is often the fraud starts outside an insurer’s firewall. Stolen identities from major data breaches are readily available on the black market. Clients, especially elderly ones, are susceptible to phishing emails, which have been more prevalent in the wake of COVID-19.
In strategic alliance with Milliman, we’ve developed a turnkey HIPAA-compliant fraud solution for insurers to detect and prevent identity fraud. A test can be set up within weeks, and does not require any changes to your current operations or infrastructure. In addition, after six months of collecting fraud investigation results, we can work with you on enhancing the fraud solution through predictive analytics.
Complete this form to learn more about our solution for identity fraud.
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