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.
From a consumer perspective, quote manipulation involves deliberately providing false or misleading information to insurance companies to secure lower premiums for auto or homeowner's insurance.
Quote manipulation refers to the deliberate provision of inaccurate information by either the insurance agent or the consumer during the quotation process to secure a more favorable insurance rate.
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.
Advancements in quote management and policy management systems have made it easier for carriers to identify patterns of quote manipulation by agents.
