How Prove helps insurance providers
Knowledge-Based Authentication (KBA) creates friction for prospects leading them to abandon the quote process. KBA is also susceptible to fraud as answers are easily obtained online by bad actors.
Prove Pre-Fill® modernizes the quote and insurance application process by auto-filling forms with verified identity data. Complete identity verifications with confidence.
Invalid, outdated, and missing policyholders' contact data negatively impacts outbound contactability and leads to poor support experiences, digital CX solutions and call centers throughout the customer life cycle (long wait times, tedious authentication).
Prove Identity Manager℠ enables robust identity record management with accurate policyholder contact data which improves contact rates for continuous engagement: real-time updates & policyholder support.
Using antiquated KBAs or MFA creates exposure to several common fraud vectors, making it challenging to execute key transactions to legitimate policyholders (97%+) securely. As a result, there is reduced productivity & increased OPEX due to password resets, false fraud alerts, and customers opting out of digital services.
Prove Identity® enables insurance companies to verify and authenticate new and existing policyholders with confidence leading to increased pass rates, reduced fraud, and HIPAA compliance.
Customers expect a frictionless world where account access is instant. Digital insurers need to balance customer experience with risk management and ease of authentication.
Prove Auth® offers a suite of passive and active authenticators to adapt to any customer’s authentication scenario across low-to-high-risk events.