New to UK email address validation solution flags ID fraud risk

Email address validation solution flags ID fraud risk

Instant validation at point of quote based on billions of online transactions

Streamlines quote process, frees up resource, assists with inception of fraudulent policies

LexisNexis® Emailage® Rapid is a powerful fraud risk scoring solution based on the email address and other personal information provided during the application process.

Built on billions of transactions from global payment processors and other online industries, LexisNexis Emailage® Rapid gives insurance providers an instant risk score helping to verify an individual’s ID through email address information. The score will indicate whether the ID used for the insurance application could be fraudulent.

Emailage looks at the email address and the digital footprint that goes with it, based on how it has been used online, including its history.

Today, email is a unique global identifier that unlocks digital engagement and transactions in every industry because it is one of the most commonly used components of an online transaction.

As well as automatically validating quotes, this fraud risk score can help inform pricing and underwriting decisions when used alongside a wide range of data enrichment datasets including publicly available data, policy history data, property, environmental and prior claims data. This data is fed direct into insurer and broker software systems from one access point – the LexisNexis® Informed Quotes platform.

James Burton, senior director of insurance product management for U.K. and Ireland, LexisNexis Risk Solutions, said: “Insurance providers have to strike a balance between offering a streamlined application experience to the customer with robust fraud detection and prevention capabilities.  Manual checks post-quote can lead to customer friction and are limited by both time and the data resources available.  LexisNexis® Emailage® Rapid will help prevent insurance providers writing business that is potentially fraudulent and protect individuals from having their identity compromised while helping to ensure a swift and smooth on-boarding process.”

Editor’s Note: In February 2020, LexisNexis Risk Solutions acquired Emailage, a fraud prevention and risk management solutions provider. LexisNexis® Emailage® is a proven risk assessment tool that is fuelled by continuously updating global digital insights and uses a patented, proprietary analytic approach to reimagine fraud detection.

If you would like to talk to LexisNexis about their Emailage proposition, CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on