Premium Leakage in Auto Insurance: The Complete Guide
Premium Leakage in Auto Insurance: The Complete Guide Premium leakage in auto insurance is one of the common, and costly, facing carriers today. The challenge lies in figuring out how to stop it without unintentionally creating additional friction. Picture two applicants – they submit the exact same auto insurance application on the exact same day. […]
Why Digital Insurance Applications Made Premium Leakage Worse
Why Going Digital Made Premium Leakage Worse There’s a stat that doesn’t get talked about enough in insurance circles: application misrepresentation, or put another way, application integrity — how accurately applicants represent their actual risk — is down more than 20% over the last decade. Twenty percent. And the timing isn’t a coincidence. That decline […]
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 […]
Insurance Fraud Detection: The Complete Guide for Carriers
Insurance fraud isn’t one problem. It’s a collection of problems that show up at different points in the insurance lifecycle, through different channels, in different lines of business — and each one requires a different lens. What ties them together is this: the industry’s insurance fraud detection playbook was built for a slower, more analog […]
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 […]