Outdated authentication solutions such as caller ID and KBAs aren’t effectively preventing insurance call center fraud. When fraudsters liquidate insurance policies or file false claims, they put the brand’s reputation at risk.
THE STRUGGLE TO IDENTIFY CALLERS & BUILD TRUST
While many insurance companies have strengthened their online and physical security, insurance call centers remain a weak link. Because customers don’t call frequently, fraudsters can access accounts for months or years without customers knowing. Whether these sophisticated criminals liquidate or take over an account, file false claims, or complete fraudulent policy surrenders, they’re putting customers’ legacies and financial futures at risk.
Brand reputation and trust is critical in the hypercompetitive insurance industry
High Fraud Exposure
3x higher transactional fraud exposure than other industries
Relying only on legacy solutions makes the call center the weakest security link
Pindrop® Panorama: A Platform to Fit Your Call Center
Pick and choose from authentication and anti-fraud solutions to fit your needs and serve your customers, with Pindrop Panorama, Pindrop’s next generation platform. From the carrier to the IVR and agent, call centers that deploy Panorama can seamlessly authenticate legitimate callers and weed out fraudsters, while decreasing average handle times and cost per call.
Pindrop helps call centers detect fraud throughout the lifecycle of a call by analyzing the audio, voice, behavior and metadata to create call risk scores and fraudster profiles.
- Identify repeat fraudsters
- Invisibility score calls for fraud risk
- Reduce KBA for low-risk callers
Pindrop helps call centers passively authenticate customers by creating unique multi-factor credentials based on device, voice, and behavior.
- Reduce average handle time
- Improve IVR containment rates and self-service
- Improve customer experience
PINDROP® LABS FOUND THAT ONE IN EVERY 4,700 INSURANCE CALLS IS FRAUDULENT — AN INCREASE FROM ONE IN 12,000 THE PREVIOUS YEAR.
— Pindrop® Labs 2017 Fraud Report
HOW PINDROP® PROTECTS INSURANCE
Pindrop® anti-fraud and authentication solutions help insurance call centers reduce false claims, improve customer experience, and protect brand reputation by avoiding damaging data breaches and fraud attacks originating in the call center.
PROTECT BRAND REPUTATION
To compete in the marketplace, insurance companies must constantly uphold the brand’s trust and reputation. Pindrop helps call centers protect their brand reputation by helping prevent major data breaches and customer identity theft.
PREVENT ACCOUNT TAKEOVERS & STOP FRAUDULENT CLAIMS
Pindrop’s patented multi-factor solutions quickly and accurately identify and flag suspicious callers. Call centers receive a risk score that indicates if a call is likely legitimate or needs further investigation.
IMPROVE CUSTOMER EXPERIENCE
The last thing customer service agents want is to make things harder for customers at a sensitive time. Pindrop solutions help insurance call centers reduce frustrating authentication processes for low-risk callers — allowing agents to immediately help customers solve problems without sacrificing security.
LOWER OPERATIONAL COSTS
By using an accurate solution to authenticate callers, Pindrop solutions help insurance companies reduce call center operational costs. Highly accurate scoring means fewer service disruptions and unproductive investigations from false authentication positives.