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"Insurers are concerned about fraud at a high right," says Mark McElroy, head of insurance for TransUnion. "The ability for fraud or fraud-related transactions to go undetected is presenting them with a significant amount of brand reputation at stake." “Insurers are concerned about fraud,” says Mark McElroy, head of insurance for TransUnion. “The ability for fraud or fraud-related transactions to go undetected is presenting them with a significant amount of brand reputation at stake.” (Photo: Shutterstock)

The insurance industry has long dealt with the issue of fraud, but its impact has multiplied as companies have expanded their presence to the internet. Insurers must not just consider the economic impact of fraud, but also the way in which fraud — and all the false alerts, detection and prevention procedures, and investigations that go with it — impacts their customers’ experience.

Denny Jacob

Denny Jacob is a staff reporter for PropertyCasualty360.com. Contact him at djacob@alm.com.

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