Insurance companies face online fraud threats

Increasing numbers of people are using digital platforms when engaging with their insurers and this opens up the industry to a range of new fraud challenges. A new report from TransUnion and iovation identifies 9.14 percent of online insurance transactions as risky, compared to just over five percent across all industries. "The advantages of an online insurance offering is undeniable. It makes business processes more efficient and the consumer experience more convenient," says Melissa Gaddis, iovation's senior director of customer success. "However as transactions move online so will the fraudsters. With US consumers becoming increasingly comfortable transacting with insurance companies… [Continue Reading]