Garaging Fraud: Predictive of Loss
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Our studies show that garaging lies are predictive of loss. Liars lie. So how much do those lies cost you? Industry numbers show that every 1% of a rating error left uncorrected causes a 20% hit to profits. Collectively carriers continue to lose billions to fraud, and as a result, rates go up for everybody. Could that “little” garaging lie come roaring back as bigger losses at claims? Our studies show that carriers should expand their view to look at garaging issues – intentional or not – that lead to loss. Get this Blueprint to Identify Garaging Fraud at Underwriting and Renewals Using “Where” Data. |
