There are many faces of fraud in the insurance market - using stolen identities to obtain a new policy - or just as troubling, an account takeover to make a false claim or change payee information to receive claim funds. And when fraud hits, it hurts everyone in the pool. In fact, according to the Federal Bureau of Investigation (FBI), annual losses related to insurance fraud is approximately $40 billion, costing the average American family $400-$700 in increased premiums each year.
At the same time, the insurance industry also faces pressures around digital transformation, to push as many services to the online channel as possible. As these changes occur, balancing the risks along with the customer experience is key to success.
In this webinar, we will discuss these trade-offs, what this means for insurance executives and how behavioral biometrics are used to provide a balance. We will demonstrate real-world examples and success cases from leading financial institutions around the world and make a case for the tremendous return on investment that these technologies can provide.
Attend this webinar to gain key insights on:
- How behavioral biometrics supports digital transformation in insurance with the 3 F's - less fraud, less friction, more functionality
- The ways that behavioral biometrics satisfy risk-based authentication requirements
- How behavioral biometrics work with other technologies to provide strong authentication and protect against today's cyberthreats like malware, social engineering and Remote Access Trojans