AA Insurance, Verisk Insurance Solutions and iovation host webinar

iovation, the provider of device intelligence for authentication and fraud prevention, unveiled the top five online insurance fraud schemes to look for in 2016 during a webinar entitled “How to Avoid Online Insurance Fraud in 2016.” David Reynoldson, iovation’s strategic partnerships manager, led the discussion alongside Bill Ayscue, senior product manager at Verisk Insurance Solutions, and Chris Monk, AA Insurance’s collections and fraud manager, which took place on Tuesday, January 19, 2016.

“The market has seen a significant increase in the volume of insurance fraud schemes, making it imperative for providers to stay ahead of cybercriminals’ shifting tactics,” said Reynoldson. “At iovation, we stop more than 250,000 attempted online fraudulent activities across our global network every single day. By discussing the latest methods being used, we want to empower insurance providers not only to stop fraud across the customer lifecycle to minimize losses, but also to improve the overall experience for good customers so they can maximize revenue and protect their brands.”

When armed with detailed intelligence about the top fraud trends, insurance underwriters and risk managers can better determine where and how to focus their unique fraud countermeasures. Webinar attendees learned how iovation’s device recognition technology helps stop fraud by linking fraudulent claims together; uncovers gangs of criminals working in collusion; and prevents ghost brokering, crash for cash schemes, policy manipulation and claims fraud.

Through iovation’s fraud prevention service, insurers are able to identify fraud and misuse at point of quote, point of purchase, claim, mid term adjustment and renewal. The solution determines whether an insurance quote request appears to be fraudulent based on the current and past behavior of a device; such as a smartphone, tablet or laptop. iovation’s insurance clients have detected and blocked a significant volume of instances of known or suspected insurance fraud. The solution has also saved insurers significant resources that have historically been diverted to point-of-sale or even post-sale fraud detection.

To view the webinar, go to http://www.verisk.com/ws/auto/avoid-online-insurance-fraud/.

iovation is a leader in fraud prevention solutions, multifactor authentication solutions and regulatory compliance such as EU GDPR and PSD2.

About iovation

iovation, a TransUnion Company, was founded with a simple guiding mission: to make the Internet a safer place for people to conduct business. Since 2004, the company has been delivering against that goal, helping brands protect and engage their customers, and keeping them secure in the complex digital world. Armed with the world’s largest and most precise database of reputation insights and cryptographically secure multifactor authentication methods, iovation safeguards tens of millions of digital transactions each day.

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