Biometric Identification – An Efficient Weapon against Frauds in Insurance Industry

Biometric Identification – An Efficient Weapon against Frauds in Insurance Industry
With the proliferation of online channels, consumer conveniences and even continuous developed tactics of fraudsters, deploying some degree of biometric technology will become a competitive necessity. As the insurance industry continues to expand consumer services because of e-commerce and m-commerce, there is no doubt that new applications of biometrics will come about. Given insurers’ focusing on risk, it would seem to be only a matter of time before the majority agree that biometric security is more than worth the investment. No matter the insurance fraud, if insurance companies brought in new identification methods like biometrics solution to identify the claimants, this will become an efficient weapon against frauds in insurance. Taking a simple example, using facial recognition online or via a mobile device could fraudsters from a database, which can save the insurance industry millions of fraud and at the same time help to reduce the cost of all of policies.

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