"Insurers are concerned about fraud," says Mark McElroy, head of insurance for TransUnion. "The ability for fraud or fraud-related transactions to go undetected is presenting them with a significant amount of brand reputation at stake." (Photo: Shutterstock)
The insurance industry has long dealt with the issue of fraud, but its impact has multiplied as companies have expanded their presence to the internet. Insurers must not just consider the economic impact of fraud, but also the way in which fraud — and all the false alerts, detection and prevention procedures, and investigations that go with it — impacts their customers' experience.
Customers demand exceptional experiences in order to retain their business, so combating fraud is critical for any insurer. To understand the state of fraud within the insurance industry, TransUnion commissioned Forrester Consulting to evaluate the landscape.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
