Stuart Rose is Global Insurance Marketing Director at SAS.
Everyone wants cheaper auto insurance policies. We have all seen the commercials from Progressive, Geico, State Farm, Allstate, and many others offering low-priced insurance. But the number of drivers desperately looking for a better deal has also led to an increase in underwriting fraud.
Recent studies have shown that insurers lose approximately 10 percent of their total revenue to premium leakage and underwriting fraud. In 2010, rating errors reduced private passenger auto insurance premium revenue by $15.4 billion in the United States.
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