Solving The Profitability Puzzle - Addressing Auto Insurance Quote Manipulation
Following best practices for combating quote manipulation means integrating robust verification tools into insurers workflows.
Advancements in quote management and policy management systems have made it easier for carriers to identify patterns of quote manipulation by agents.
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.
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.
