Insurance Industry sees Spikes in Digital Activity and Identity Fraud during COVID19 Pandemic

September 24, 2021 - Recent LexisNexis research on Insurance industry fraud revealed that insurance carriers saw an increase in consumer digital activity across both underwriting (77%) and claims (76%) during the coronavirus pandemic, and the increase in digital activity has in turn spurred more identity fraud activity.  

The primary drivers of Insurance Fraud were traced to: 

1. Assets tied to digital transformation efforts, such as online portals, alternate underwriting, and claims automation 

1. Availability of consumer data to fraudsters due to data breaches 

1. The pandemic’s impact on changing consumer behaviors/lifestyles