Are you concerned that implementing virtual claims processing will make your business more vulnerable to fraud? You’re not alone. Many insurers are wary that virtual claims processing could increase the chances of fraudulent activity.
Virtual Claims Handling and Potential Fraud
For example, how do you know the photos submitted by a supposed claimant are real photos of legitimate damage? How do you know the person submitting the photos is truly your insured? And how can you make sure duplicate payments aren’t sent out from an automated system?
The Right Data at the Right Time Makes the Difference
The good news is that new data analytics solutions can help you protect your virtual claims processing environment so you and your customers can enjoy the benefits of more convenient and streamlined claims processing without added risk.
Solutions like LexisNexis® Claims Clarity
can help protect you from fraud by verifying identity and other claims activity, so you’re not paying for damages that are not your responsibility.
In this video, William Brower, Vice President, Auto Claims for LexisNexis Risk Solutions, explains how becoming more virtual doesn’t have to create new risk vulnerabilities. Ever-improving data analytics tools are helping insurers identify possible fraud conditions, even in the virtual space.