Solving The Profitability Puzzle - Addressing Auto Insurance Quote Manipulation
Following best practices for combating quote manipulation means integrating robust verification tools into insurers workflows.
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.
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.
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.
