TransUnion & Neuro-ID Partner to Help Insurance Industry Detect Fraud
CHICAGO, May 05, 2020 (GLOBE NEWSWIRE) — TransUnion (NYSE: TRU) today announced a partnership with Neuro-ID, a next generation provider of real-time behavioral analytics, to help carriers become more agile and drive greater value for their customers. TransUnion will begin introducing Neuro-ID’s Friction Index® Platform and Fraud Solutions to its insurance customers to reduce friction, improve customer experience and detect behavioral fraud and risk.
Through a simple JavaScript installation, Neuro-ID’s Friction Index® Platform reveals points of friction, hesitation and confidence as applicants digitally interact with an online quote or claim process. This new behavioral layer of digital intelligence makes it possible to optimize conversion and minimize risk. The partnership provides carriers with a powerful new source of behavioral data to advance their digital transformation initiatives.
“Our insurance customers have an insatiable appetite for new sources of data to help them make better and smarter decisions while providing consumers with great experiences. As a result of this partnership, we will be able to enable more trusting relationships between insurance carriers and their customers,” said Mark McElroy, executive vice president and head of TransUnion’s insurance business unit. “Neuro-ID unlocks the ability to scientifically measure and explain the friction and fraud behaviors their customers are exhibiting in real-time.”
According to IDC projections, worldwide spending on digital transformation innovations and services will reach $1.97 trillion (USD) in 2022 as enterprises look to advance their digital transformation initiatives, and improve interactions between corporations and their customers. However, according to Neuro-ID’s observations, nine in 10 customer journeys still result in frustration, failure or fraud because companies simply do not have adequate visibility into their customers’ digital body language.
“TransUnion’s legacy of bringing innovation to the market, and their leadership in assisting individuals, fits perfectly into our mission of humanizing the digital experience,” said Jack Alton, CEO of Neuro-ID. “With nearly 100% of commerce moving online in recent weeks, it is now more important than ever to understand the experience, behaviors and intent of applicants.”
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.®
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.
http://www.transunion.com/business
About Neuro-ID
Neuro-ID is a next generation analytics platform passionate about putting humans at the center of the digital world. Our mission is to empower our clients to build meaningful, lasting relationships with their digital customers. With a decade of patented scientific research, Neuro-ID unlocks a rich source of behavioral data, gathered in real-time from any device, in any language. This visibility provides actionable insight that our clients need to reduce fraud while improving customer experience.
For more information on Neuro-ID visit https://neuro-id.com/
Contact Dave Blumberg
TransUnion
E-mail david.blumberg@transunion.com
Telephone 312-972-6646