Apptical Corp., a provider of sales and underwriting solutions to the life insurance industry, is collaborating with LexisNexis Risk Solutions Inc., a provider of data and analytics to insurance carriers. Through this relationship, life insurers can access to the strengths of LexisNexis identity verification tools and Apptical Corp's teleunderwriting services.
Apptical said that life insurers can proactively help prevent identity-related life insurance application fraud and identify relevant risk within their teleunderwriting processes.
By using Apptical Corp's SoundDecisions and LexisNexis InstantID to validate the proposed insureds’ identity during the telephone interview process, carriers can better verify that people applying for life insurance are providing the correct information. Carriers also are instantly alerted to indicators of potential fraud, Apptical said, as verifying that personal identifying data is accurate when ordering underwriting requirements is of great importance.
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