Related story · North AmericaA consumer fintechProven on their own customers. Then they signed.85%of fraud stopped at sign-upRead the story
Insurance
Insurance fraud prevention, from quote to claim.
Policies are bought online in minutes. Fake identities and false details come in through the same door.
Insurance fraud statistics: what fraud costs insurers.
The bill lands on insurers first, then on every honest customer.
Insurance fraud
$308.6 billion
what insurance fraud costs the US every year
A 2022 estimate by Colorado State University’s white-collar crime task force.
Insurance fraud starts at the quote, and how Monnai stops it.
Fake identities buying cover.
Details that don’t add up.
Customers you can’t reach when it matters.
Customer results.
What they needed, and what they measured.
Related story · North AmericaA consumer fintechProven on their own customers. Then they signed.85%of fraud stopped at sign-upRead the storyCustomer storyPlaceholder · To collect
An insurance customer story
Ideal content
- An insurer (motor, health, or cover sold inside another app) and its market
- What it needed, in its own words
- One result it measured, and how it was measured
Get answers about insurance
How can insurers prevent fraud when policies are sold online?
Check the person behind every quote, before the policy is issued. From the phone number and email given, Monnai shows whether they are real and reachable, how long they have existed, and whether either is a throwaway, so you can stop fake identities before they buy cover.
How much does insurance fraud cost in the US?
According to the Coalition Against Insurance Fraud, insurance fraud costs the US $308.6 billion every year, a 2022 estimate by Colorado State University’s white-collar crime task force. The bill lands on insurers first, then on every honest customer.
How can insurers check that an applicant’s details are genuine?
A name, an address and a date of birth that don’t belong together are often the first sign of fraud. Consumer KYC checks them against credit, utility and public records, where they exist, and confirms they belong to one real person, with match, partial or no match for each detail.
How does Monnai fit with an insurer’s underwriting checks?
It adds to them. Monnai brings identity and risk signals to the quote and the checks you already run, through one API, and its red flags, good signals and Risk Score feed your own rules and models. Your underwriting decisions stay yours.
Can an insurer try Monnai on its own data first?
Yes. Send past quotes or applications, with a phone number and an email for each. We score them offline, with no integration on your side, and your full report comes back within 5 business days. Monnai is SOC 2 and ISO 27001 certified.
Let us prove it. Test us on your data.
Send past applications or transactions. We score them and send back a full report: every score with its reasons, and the uplift for your portfolio.
5 business days to your full report. We commit to it.