iovation Fraud Prevention helps GoCompare.com filter out fraudulent insurance quote requests to provide insurers with the quality leads they want.
Nothing makes us happier than covering the successes of our customers, and GoCompare.com has a story that's certainly no exception.
Not surprisingly, it's the kind of scenario that's becoming more and more common not just within insurance, but across all market segments:
As an industry evolves and adopts new ways to serve consumers better, fraudsters swiftly adapt to take advantage of fresh new opportunities to commit fraud.
GoCompare.com is a price comparison website (PCW) serving the insurance industry. Also called insurance aggregators, PCWs have been gaining in popularity both domestically and overseas, particularly in the UK, because they put more control and choice in the hands of consumers. However, they also put more options in the hands of criminals for committing fraud.
A Powerful, Flexible Fraud Prevention Solution
Fortunately, Gocompare.com recognized a clear opportunity to better serve its insurance partners by implementing iovation’s device recognition technology at point-of-quote. As a result, they are now able to automatically block devices recognized for past fraudulent behavior and high risk applicants, so the quote requests they originate never get passed on to GoCompare.com's insurer partners.
It's an intriguing example of how insurance businesses can leverage iovation's fraud prevention solution to both combat fraud while instilling greater trust amongst partners and consumers.
Be sure to download our brand new GoCompare.com case study to find out exactly how their story played out.
Come Find Us at BIBA!
As we mentioned earlier, we're making our BIBA debut in the UK this week, so please stop by our booth (C64) to learn more about our latest successes working with valued customers and partners across the insurance market.