Beating Fraud, Beating Friction

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White Paper

The increasing sophistication of claims fraud tactics has propelled insurers’ fraud losses to an all-time high. Not only are insurers forced to grapple with steep increases in fraudulent activity, they are also being pressured by their policyholders’ demands for faster claims processing, disbursements, and resolution — as well as minimized policyholder service friction. To stay competitive, insurers need to innovate. Not only updating their policyholder service delivery channels, but also the fraud prevention tools that protect those channels.

GIACT’s new report, Beating Friction: How Insurers Slash Costs and Delight Policyholders with Payments Innovation, discusses how insurers can protect against fraud. The white paper explores the growth of insurance claims fraud as well as the risks and opportunities associated with insurers’ payment processes.


Topics Covered

  • Risks and opportunities across the payments process;
  • Protecting payments;
  • Using technology to gain an edge in preventing claims fraud; and
  • Life, annuities, and other vulnerable lines of business (LOBs).

Download the White Paper

Refinitiv Introduces Digital Onboarding Solution to Help Businesses Accelerate Secure and Frictionless New Customer Onboarding
Enrollments
Refinitiv Introduces Digital Onboarding Solution to Help Businesses Accelerate Secure and Frictionless New Customer Onboarding

GIACT, a Refinitiv company, today announced that it has added a global consumer and business identity verification solution, gIDENTIFY® Global, to its EPIC Platform. gIDENTIFY Global represents a significant advancement in global identity verification, allowing U.S. organizations to validate non-U.S. persons across 38 countries and businesses across 11 countries, respectively.

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Consumer Scams Rising in Velocity and Sophistication_Press Release
Identity
34% of U.S. consumers were targeted by scams in 2021, Aite-Novarica Group consumer survey finds

GIACT’s report, Consumer Scams: Rising in Velocity & Sophistication, looks at the methods scammers used to target U.S. consumers, including email, text, phone, and social media. As detailed within the report’s findings, U.S. consumers were solicited through a wide range of mediums using a variety of tactics to social engineer victims into providing payment and / or sensitive payment information.

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