Solving The Profitability Puzzle - Addressing Auto Insurance Quote Manipulation
Insurers should understand the importance of proactive measures by carriers, especially in agent-driven channels, to combat quote manipulation.
The agent component of quote manipulation involves insurance agents using their knowledge of the insurance system to alter information and secure lower premiums for clients.
A specific study highlighted the practice of quoting multiple individuals from the same household on the same day to find a more favorable rate, based on who is designated as the primary insured.
Following best practices for combating quote manipulation means integrating robust verification tools into insurers workflows.
Integrating identity verification at the very beginning of the quote process is a crucial strategy for carriers to manage quote manipulation and other identity risks effectively.
