Fraud prevention for Synectics Solutions

Insurance providers are adding digital services to reduce friction in claims and underwriting, but they also open new doors to fraud. Kount’s Insurance Digital Risk and Fraud Prevention Solution stops illegitimate policies and claims, reduces customer friction, optimizes underwriting, and accelerates marketing efficiency. 

Solution Features

• Identity Trust Global Network - uses AI and two types of machine learning to link trust and fraud data signals from 36 billion digital interactions across 200+ countries and territories. With the ability to link signals from payments data, location ID data, digital identifier data, and unique customer data, carriers can immediately detect and reduce fraud across their services. Identify anomalies and threats
• Account Takeover Protection - stops malicious logins, detects and protects against bots, and enables personalized customer experiences. It allows carriers to reduce fraud in the cases of bot quotes, identity assumption, ghost broking, and service fraud. At the same time, marketing can use trend data to amplify campaign efficiency and conversion.
• AI-Driven Fraud Protection - reduces digital payments fraud and delivers personalized customer experiences. It delivers the most accurate insurance fraud protection to dramatically improve bottom-line profitability and includes everything needed to evaluate trust levels. Kount Command allows carriers to reduce payments fraud in the cases of ghost broking, claims padding, claims staging/crash for cash, damage assumption, and doctor shopping. The payments and identity data adds to the insights available for use by marketing.