The insurance industry is built to help people when they are in need, and only the claims organization makes that possible. Now, the world faces a unique challenge – and customers need more support than ever before.
Leveraging automation can be a double-edged sword. As customers look for simpler claims processes and access to information, it can be easy to put tools into place that make customers feel left out of the loop, unheard, and wary of the process.
The rise of analytics presents a world of almost limitless potential for industries such as insurance where companies have long held a foundation of information. The industry at large has had a slow adoption of new Big Data analytics because of cost concerns, and regulation may be the limiting pressure of the future.
Insurance Nexus recently sat down with Vodafone’s Manager of Fraud, Andrew Spencer, to learn about how mobile network operators (MNOs) are fighting fraud. With fraud being a key challenge facing insurance companies, we chatted to Andrew to get the scoop on fraud trends, solutions and how to beat a fraudster.