Executive Summary Mitigating fraud has long been a priority for the claims function. But what about identity-related fraud? The increasing sophistication of identity-related fraud makes it difficult to detect, as fraudsters exploit stolen and synthetic identities. And the cost of identity-related fraud isn’t just financial—it can also have long-term repercussions for brand reputation, customer retention and profitability. Identity-related fraud is especially a concern as virtual and touchless claims processes are on the rise. Digital claims channels help carriers achieve efficiency and cost savings, as well as speed, better customer service and smarter decision-making. Consumers win with more convenience, faster claim cycles and increased accuracy and transparency.

Join for free to read