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.
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.
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.
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.
