Solving The Profitability Puzzle - Addressing Auto Insurance Quote Manipulation
To address the issue of quote manipulation, the fundamental strategy for carriers revolves around rigorous verification processes.
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.
Advancements in quote management and policy management systems have made it easier for carriers to identify patterns of quote manipulation by agents.
Carriers face significant challenges when addressing quote manipulation, balancing the need to provide a smooth customer experience for legitimate consumers while applying necessary friction to prevent fraudulent activities.
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.
