Fraud claims an estimated 2.39% of revenue for financial service firms1 and to insurers it costs more than $30 billion a year.2 Aside from losses, fraud prevention methods can have serious implications on the customer experience.
In fact, up to 71% of financial service firms reported that customer expectations influence the methods they use to detect fraud. Additionally, 73% of insurers3 agree that fraud is also negatively impacting the customer experience — which can lead to abandonment and attrition. To maintain your competitive edge, you need to fight fraud without comprising the customer experience.
Read our new study, conducted by Forrester Consulting, to learn:
1Fraud Detection And ID Verification In Financial Services, an August 2018 commissioned study conducted by Forrester Consulting on behalf of TransUnion.
3Insurers: Strike The Right Balance Between Fighting Fraud And CX, an August 2018 commissioned study conducted by Forrester Consulting on behalf of TransUnion.