Post Magazine names authentication and fraud prevention firm an award winner for a third year in a row
iovation, the leading provider of device intelligence for authentication and fraud prevention, today announced it has been named “Outsourced Partner of the Year – The Best Buddy Award” in the Post Digital Insurance Awards. This is the third consecutive year Post Magazine has recognized iovation in its insurance industry awards. Judges from Post Magazine—a UK-based insurance publication founded in 1840—and Europe’s leading business advisory and startup accelerators selected the company for its device-based fraud prevention solutions successfully helping UK insurers reduce risk.
“As insurers innovate, they are moving the customer experience such as claims processing and policy issuance online. And while insurers are building 360 degree views of their customers through an omni-channel approach, it opens the doors for frausters to attack. ” said Tom Pak, Vice President of Global Sales at iovation. “We are honored to win this award and help UK insurance companies harness new technologies, while enabling them to prevent fraud and enhance the consumer experience. We’ll use this recognition as motivation to continue building upon and delivering our robust fraud-prevention technologies.”
“Our partnership with iovation has enabled us to offer a fraud detection and prevention solutions which benefit our whole panel of car and van insurance partners,” said Dan Cassell of UK insurance aggregator Gocompare.com. “We can also provide even further value to our partners who also use iovation, giving them more control over the quotes we send them. The abilities that iovation give us to identify and block fraud at the earliest step in the quote process are extremely powerful in the fight against fraud.”
By leveraging iovation's intelligence about billions of internet devices, insurers can identify and stop fraud at point-of-sale, claim, mid-term adjustment, renewal or even at post-sale detection. The device insights help insurance companies identify risky transactions from devices already associated with fraud and abuse at other businesses—dramatically increasing operational efficiency while enhancing the online experience for “known good” customers.
Post Magazine recognized iovation during an award ceremony held on Nov. 18, 2016 in London. The publication similarly named iovation the “Outsourced Partner of the Year” last year, and the “Claims Technology Partner of the Year” in 2014.
iovation's solutions portfolio tackles the heightened threat environment from multiple directions, including through device-based risk detection and consumer authentication services. Highly intelligent business rules, combined with proprietary machine learning algorithms, flag anomalies around hundreds of attributes and obscure risk factors, offering the highest degree of confidence when it comes to stopping fraud and improving customer experience in the finance, insurance, ecommerce, social media, travel, ticketing, telecommunications, gaming, and gambling industries.
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.