The idFusion toolset can be readily configured to address this issue in a variety of ways, such as the one below:
idFusion receives carrier-supplied application and third party data via one or more web service calls during active transactions. idFusion applies advanced entity resolution solutions to resolve identity, address and other possible data conflicts, and then fuses new information with carrier history to drive a resolved customer identity and data set for further analysis.
idRulesEngine flags when vehicles are not registered to a listed insured and creates an alert. The alert triggers an interaction with the customer and updates idFusion databases that a suspicious registration has been identified.
idResolve idResolve opens a session with the agent or customer and requests that acceptable proof of the vehicle ownership and registration be provided. Customer is prevented from proceeding until such documentation is delivered. Manual document review is typically needed, and the carrier may therefore elect to have the document reviewed during the transaction by a CSR or conditionally issue the policy and review the documentation during the looksee period.
idWorkbench receives notification that documentation has been received, updates a document review work queue. An authorized carrier representative may immediately inspect and then enable issuance in idFusion, or do so after issuance subject after informing the customer that he/she is subject to possible cancellation for invalid registration information.
• Utilization of our solution reduces first year claims by 5 to over 15% of NPW depending upon channel/customer.