Auto Insurance Industry

Enformion for Auto Insurance Industry

For those in the auto insurance industry, it’s important to efficiently evaluate claims and mitigate risk. Find out how Enformion can help you to better achieve those goals.

Home » Insurance » Auto Insurance Industry

How Enformion Can Help the Auto Insurance Industry

In order to operate a motor vehicle in the U.S., licensed drivers also need to be able to show proof of insurance. That’s a lot of potential business for motivated auto insurers. But as with any other insurance specialty, auto insurance comes with risk and the potential for fraud.

With Enformion, you can curtail fraud and identify risk, all while ensuring excellent products and customer service.

Determine Risk

One of the best ways to identify a potential client’s level of risk is to learn more about their past behaviors. A person’s public records will reveal obvious risk factors, like drunk driving convictions, traffic citations, and the like. But they can also reveal other issues that, while perhaps not directly related to driving, indicate that someone is just risky in general.

  • With Enformion data, you can quickly find out a person’s risk factors in the form of past patterns of behavior.
  • The same records can identify other potentially relevant risk factors, like financial difficulties and criminal activity.
  • All of this person data can provide you with a full picture of a client’s background and help you to determine the level of risk they may pose.

Identify Fraud

Fraudsters will take any possible opportunity to get a quick payout. It’s up to you to protect yourself and your firm from possible fraud, preferably before it even happens. This sort of preventative approach to fraud will save you the time and frustration of trying to recoup your losses. And it also ensures a simply more efficient way to run your business in general.

  • Enformion data and data delivery processes can be made to fit in seamlessly into auto insurers’ day-to-day operations and systems.
  • With our identity verification solutions, you can find out right away if you’re dealing with a real subject or a fake.
  • Having a strong fraud prevention process in place will stop fraudsters and deter them from trying to defraud you moving forward.

Streamline Quoting and Underwriting Processes

With so much focus on information verification and fraud prevention, it may seem like there’s just not enough time in the day to ensure good experiences for customers. Fortunately, the same tools that can help with those issues can also maximize your efficiency with other essential tasks. With Enformion on the job gathering and analyzing data, you can make better and faster quote and underwriting decisions.

  • Take guesswork out of the process by utilizing thorough data and advanced analytic tools.
  • We can analyze customer data for you, so all you have to do is make quick decisions based on it.
  • With risk factors all laid out and identity verification complete, you can move forward confidently with quotes and underwriting.

Retain Customers

By including in-depth data into your day-to-day processes and decision-making, you’re working smarter. And by automating much of that data, you free up your time to focus on what matters: making customers happy. Apart from enabling you to speed up your onboarding and claims processes, Enformion can help to ensure customer satisfaction in other ways, as well.

  • By regularly enriching your contact data with the vast and up-to-date Enformion database, you will always have accurate information on your customers.
  • With accurate customer information, you can better anticipate customer needs and develop targeted products and services accordingly.
  • Knowing your customers and staying in communication with them shows your appreciation, and customers will respond in kind.

INSIGHTS AND EVENTS

WEBINAR

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

BLOG

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

CASE STUDIES

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

BLOG

The State of Third-Party Collections 2019: Challenges, Trends and Innovations

Talk with a specialist today to learn how Enformion can help to customize a solution that’s right for you.

Call us at 1-855-281-3915, or via online today.