As the digital revolution changes the claims process, both carriers and customers are increasingly concerned about data privacy, according to LexisNexis Risk Solutions. More than 60% of consumers have concerns over the security of their personally identifiable information when they submit virtual claims. While carriers are worried about the actual cost of fraud, which can cost four times the value of the fraudulent transaction and impact a carrier’s reputation. “Virtual or self-service claims have been … More →

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