Be prudent in underwriting by appropriating risk correctly and reducing potential claims fraud
TransUnion’s Insurance Claims and Policy solution consists of current and historic information on consumers and assets, which enables insurers to make informed risk decisions pertaining to high loss ratios during onboarding or potential fraud when processing claims. Through the adoption of this information, risk can be segmented and/or optimised to align with key business strategies at the underwriting or claims processing stage which ultimately improves the customer experience. The database holds up to seven years’ worth of policy history on individuals and assets to help define the upfront risk before insurers underwrite policies.
Insurance Claims and Policy at Underwriting
Get a clear view of the current and historic performance of a customer and the associated risk at hand, enabling you to make more informed decisions by using key characteristics in the information.
Insurance Claims and Policy at Claims
Manage claims processing by understanding past behaviour in order to avert potential fraudulent claims, thereby reducing business risk.
Set appropriate premiums based on an individual’s past policy behaviour
Consistently and objectively manage risk
Define the risk associated with a claim based on current and historic information
Assess a policyholder’s overall claim performance during renewals
Streamline claim investigation processes by highlighting claims that need further investigation through rules defined by industry experts