With Bot Attacks on the Rise, LexisNexis ThreatMetrix for Insurance Quotes helps U.S. Auto Insurers Combat Cybercriminals and Protect Positive, Fast-Quoting Experiences for Consumers

06/11/2024

ATLANTA —  LexisNexis® Risk Solutions, a leading data, analytics and technology provider, today announced the launch of ThreatMetrix® for Insurance Quotes to help U.S. insurers and consumers better combat the rise in cybercrime that continues to plague a number of sectors, including the auto insurance industry. Digital fraud attack rates recorded in the LexisNexis® Digital Identity Network® platform continued climbing in 2023, increasing 43% year-over-year in North America, maintaining a trajectory first noted in the LexisNexis® Risk Solutions Cybercrime Report 2022ⁱⁱ.

• Quickly assess if a transaction is a bot or legitimate consumer seeking a quote for auto insurance.
• Evaluate the devices visiting insurers’ websites without adding friction to the consumer experience.
• Identify data-harvesting bot attacks and protect consumers’ personal data.

“ThreatMetrix for Insurance Quotes gives insurers the ability to better assess the risk of bot activity for each digital transaction in real time, returning an easy-to-use bot risk score and thresholds that each insurer can customize based on their own risk tolerance, then order LexisNexis® Auto Data Prefill with confidence that they are delivering an efficient quoting experience for the consumer,” said Kim Brown, associate vice president of product management, insurance, LexisNexis Risk Solutions. “We know that bot attacks are becoming more sophisticated by the day. With consumers increasingly shopping for and purchasing insurance online, insurers who integrate ThreatMetrix for Insurance Quotes in the face of these ever-changing risks can enhance their detection management systems to help their organizations protect consumers and reduce friction during the auto quoting process, while better safeguarding themselves against costly data breaches. And with the evolving nature of these bot attacks, ongoing updates from ThreatMetrix based on what we are seeing in the market can help U.S. insurers stay one step ahead of the bad guys.”

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency. Headquartered in metro Atlanta, Georgia, the company has offices throughout the world, serves customers in more than 190 countries and territories and is part of RELX. For more information, please visit LexisNexis Risk Solutions and RELX.

_{ⁱ Statista Report: Share of US consumers who bought insurance online in 2023, by age. August 2023
ⁱⁱ LexisNexis Cybercrime Report}