July 26, 2019
Trends in Insurance | How Can We Prevent Fraud?
Across the board, insurers found they were experiencing a huge…
Though the life insurance industry is known for its strong fraud teams, most of their dedication efforts are focused on claims fraud – leaving other opportunities for fraudsters out of focus, like account takeover attacks. A top 5 insurance agency was in this exact position, and was unable to detect the account takeovers happening. Due to the nature of life insurance policies, the attacks tended to be more targeted and sophisticated – their annual fraud exposure risk was nearly three times that of a typical financial institution.
Download the full case study to find out how this agency avoided a major breach of customer trust and a significant risk to brand reputation, while securing their customers’ accounts.