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How To Detect Insurance Fraud

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Transform your ability to stop policy or claims fraud while maintaining a seamless customer journey

Detect insurance fraud without impacting genuine customers

Insurance policy and claims fraud is a constantly evolving game of cat and mouse for general insurers. To remain commercially competitive, underwriters and claims management firms need to be sure they have the richest, most up-to-date intelligence to enable them to successfully detect and identify complex fraud without derailing their good customers experience at policy inception, mid-term adjustment or point of claim.

Redefine your fraud detection with LexisNexis® ThreatMetrix 

LexisNexis® ThreatMetrix® uses a revolutionary global shared digital identity intelligence network that uncovers the dynamic intricacies of how people transact online to help insurers transform their ability to detect and defend themselves against the latest fraud challenges – while at the same time enabling a truly friction-free customer experience.

Forward thinking underwriters and brokers are now using ThreatMetrix as they realise the transformative power of the LexisNexis® Digital Identity Network 

Integrate into your existing processes via a
single API and orchestration platform

Leading insurers are now realising that plugging in the Digital Identity Network into their existing fraud and claims risk assessment process can have a profound impact on their fraud detection and customer authentication capabilities, as well as improving the efficiency of their claims ‘straight through processing’.

Utilise device, location, email and
Behavioural Biometric intelligence and insights

The near real-time crowd-sourced insight available through the shared Digital Identity Network is proving to be a real point of difference when creating a customer onboarding and fraud prevention capability fit for the future.

Case Study:
OneCall Insurance

By deploying ThreatMetrix into its analysis capabilities, OneCall improved fraud detection by around 60% and were able to identify Ghost Broking and other network fraud rings that were previously going unnoticed.

How we can help you across your fraud workflow

Point of Sale and
Policy Inception

Use the global shared intelligence of ThreatMetrix to help create a more robust level of customer risk/anomaly detection and customer authentication when conducting policy inception or other customer onboarding checks.

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Account Management
and Mid Term

The Mid Term Adjustment (MTA) process represents a real point of risk for Insurers and is often used by fraudsters to take over policies, or for policy holders to withhold/ manipulate data about their latest circumstances.

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SIU Teams

By leveraging the global shared intelligence within the Digital Identity Network, SIU teams can speed up and improve their ability to identify costly complex claims fraud or organised networked fraud rings.

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Point of Claim

The intelligence provided by ThreatMetrix can help Insurers achieve a more efficient ‘straight through processing’ capability to automate more of their claims processing without exposing themselves to the risks of fraudulent or inappropriate claims.

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Contact us today to find out how to combine an improved customer experience with enhanced fraud detection