Premium Leakage in Auto Insurance: Causes, Effects, and Solutions
Premium Leakage in Auto Insurance Premium leakage is a major issue in the insurance industry, causing billions of dollars in losses each year. In this article, we will explore the causes of premium leakage, the cost to insurance companies, and the strategies that insurers can use to prevent it. What is Premium Leakage? Premium leakage […]
The Dark Side of Digital Insurance Applications
The Dark Side of Digital Insurance Applications As insurance carriers continue rolling out digital applications, it is now evident that they come with a new set of risks resulting in higher insurance application fraud. The faceless nature of digital applications has led to an increase in application misrepresentation, premium leakage, non-disclosure, and fraud, and the […]
Everything You Need to Know About First-Party Intent Data
See How ForMotiv’s First-Party Behavioral Intent Data is Leveraged by Leading Carriers Today Table of Content: First, Second, and Third-Party Data First-Party Marketing Data First-Party Underwriting Data Veracity of Customer-Submitted Data in P&C Insurance Veracity of Customer-Submitted Data in Life Insurance The Story We’re Hearing in 2023 Leveraging ForMotiv’s First-Party Behavioral Intent Data Purchase Intent […]
Top 3 AI Insurance Fraud Solutions
Insurance Fraud Detection Software | Top 3 AI Insurance Fraud Solutions Innovative insurance fraud solutions are on the rise. These new AI-enabled insurance fraud detection solutions are providing a much-needed respite to the growing fraud problem. The Coalition Against Insurance Fraud pegs the yearly cost of life insurance fraud at $90 billion and P&C insurance […]
First-Party Intent Data is the New Gold Rush for Insurance Carriers
First-Party Intent Data is the New Gold Rush for Insurance Carriers Never before in history has customer’s digital data been so accessible. Where we go on the internet, what we search for, what we watch—all of our digital interactions, no matter how small, leave behind digital breadcrumbs that tell a story about our intent. With […]
Auto Insurance Shopping Trends…”The Great Shop” is upon us.
Auto Insurance Shopping Trends After a few tough years, 2023 looks like it will be a better year for insurance companies. As inflation finally begins to cool, auto insurance shopping trends are up and carriers are aggressively filing for rate hikes to offset increased losses realized in recent years. On average, auto insurance rates went […]