Instant email address validation at point-of-quote is set to help build the insurance sector’s resilience to application fraud, as concerns mount over a potential rise in ID fraud in the Covid-19 environment and post Covid-19 business environment.
Insurance application fraud is most commonly done with the intent of selling policies on the fraudulent re-selling of live or cancelled policies by ‘ghost brokers’, or setting up false insurance policies, leading to fraudulent claims.
LexisNexis Emailage® Rapid is a powerful fraud risk scoring solution based on the email address and other personal information provided during the application process. It gives insurance providers an instant risk score, helping to verify an individual’s ID through email address information.
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