Digitalization has improved efficiencies and customer experiences across the insurance industry. However, fraudsters are exploiting this innovative technology as a new means to create synthetic identities. Designed for Special Investigation Units professionals, this presentation will provide a detailed background on this fraud trend, including its cost and overall impact to insurers. We will also cover best practices for deterring, detecting, and investigating synthetic identity fraud. This will include how to build a plan of action; set realistic goals; and define successful outcomes for an investigation.
