“Garaging Fraud” is where a policyholder claims to garage their car in a low risk area to reduce their premium. An example is a vehicle which is used for a daily commute listing a garage address in a rural area that is a two hour drive away from the place of work.
By detecting these anomalies and questioning them during the underwriting process, VeracityID discourages this cheat and deters agents from ‘helping’ their customers in this way. All without time consuming and expensive system changes.
