Solving The Profitability Puzzle - Addressing Auto Insurance Quote Manipulation
Following best practices for combating quote manipulation means integrating robust verification tools into insurers workflows.
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.
To address the issue of quote manipulation, the fundamental strategy for carriers revolves around rigorous verification processes.
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.
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.
