Trust Is the Next Competitive Variable in Fighting Fraud

Upcoming Webinar

Trust is the next competitive variable in fighting fraud

Personal lines fraud costs the industry more than $45 billion annually, according to estimates from Clearspeed. But the deeper cost is how carriers fight it: adding friction for every customer to catch the few. The honest majority pays for the bad actors through higher premiums and a slower, more adversarial process.

A more efficient alternative would be to design a system around good actors, using modern methods to assess trustworthiness in customers and treat them accordingly. Though that system wins on cost, speed and consumer loyalty, the current anti-fraud model is built the opposite way.

Join P&C Specialist for this webinar, sponsored by Clearspeed, to explore what it would mean to flip the model, assessing trustworthiness in real time to clear genuine customers first while focusing investigation on the few who warrant it. Our panel of industry experts will discuss why legacy anti-fraud methods are losing ground, and how a high-trust book could outperform on combined ratio, retention and customer experience.

Click on 'access webinar' above to learn more and register for this event.