How Identity Management Drives Customer Experience and Reduces Risk for Commercial Insurers
The right person should have access to the right resources at the right time.
Face to face business may be slower and sometimes less productive, but it also creates greater confidence about who insurers are dealing with.
As digital touchpoints increase, insurers' challenge is to keep a tight reign on data and accessibility.
Digital identity begins with determining whether the person or business is real, then authenticating that they are the right individual or business.
Conducting commercial business digitally carries many advantages, most of which can be eliminated if bad actors skirt identity barriers.
Insurers are exposed to identity issues at the point of application, during workflow servicing and during claims.
Identity management is more than a customer issue, as insurers increasingly have to worry about employees' remote access to sensitive data ad processes.
New York data security regulations are only one of a movement among regulators aimed at requiring insurers to asses and communicate their own data risks.
Basic identity-verification techniques include text and email verifications.
Preventing identity fraud begins with auditing and assessing customer and data touchpoints, then determine where and how to apply appropriate friction.
