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Success story: Insurer mitigates £10M in quote fraud thanks to detailed Celebrus data

case-insurance-quote-fraud

£10M

of quote fraud mitigated

1,000's

of suspicious quotes identified

A multi-lines insurer was trying to find fraudulent activity on their website because they were struggling to keep up with clever fraudsters. Their existing web reporting provided aggregate stats, but not individual-level insight, making it very difficult to detect emerging types of digital fraud.

Solution

Celebrus was deployed to capture detailed individual-level visitor data, including visitor, click, and quote form content​. Using this detailed insight, the insurer was able to find suspicious activity quickly, identifying single sessions where multiple similar quotes were submitted. They used the individual-level data from Celebrus to conduct a detailed analysis of each session.

The analysis found visitors were manipulating answers on the application form to obtain lower quotes. People were changing answers, such as occupation status, contents/vehicle valuations, etc. and re-submitting the quotes. The insurer deployed rules within Celebrus to flag quotes in real time for investigation and interception, and deployed the fraud solution across mobile and web applications.

casual-man-tablet

Results

Since Celebrus also enables rules to be configured to counter the activity, the insurer was able to actively prevent this “friendly” fraud.

By identifying, investigating, and strategically countering suspicious quotes, the insurer mitigated £10 Million in quote fraud.

1,000's

of quote sessions identified as suspicious

£10M

of quote fraud mitigated

man-mobile-with-dot-grid

This forward-thinking insurer did it, and you can too!

Celebrus is the only fraud defense solution that solves for ALL fraud types - even friendly fraud! Celebrus is the missing link in your fraud strategy, delivering the real-time identity resolution, behavioral context, and activation needed to detect and prevent fraud.

Finally solve your data, identity, and connectivity gaps with full compliance to elevate your fraud prevention strategy.

Connect with us today to experience the power of Celebrus for yourself!

Experience the Celebrus difference