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