From banks to credit unions to online businesses, everyone is facing the same threat. Now, you may be asking yourself, insurance for fraud loss? Never heard of it.
Let’s break it down:
What is Identity Fraud Insurance? Identity Fraud Insurance is a type of coverage that protects businesses by reimbursing them for financial losses caused by identity fraud. Fraud is becoming more frequent and more sophisticated . The growing risk is why Instnt’s AI-powered fraud risk assessment with insurance-backed protection to remove the burden of fraud loss for businesses. Instead of the business absorbing the entire cost of fraud losses,fraud loss insurance shifts that financial risk to the insurer, giving the business peace of mind and greater financial security.
Better yet, Instnt’s fraud loss insurance is integrated with AI-driven fraud protection, meaning businesses not only detect and block fraud but also get covered for losses when fraud slips through, providing a full safety net.
What kinds of fraud does identity fraud insurance cover?
Identity Fraud Insurance covers a wide range of fraud that threaten businesses today. This includes:
- Synthetic identity fraud: fake identities that get through verification.
- Third-party fraud: Using: stolen information to commit fraud.
- First-party fraud: false info given to gain an advantage.
- Account takeover fraud: stolen accounts to manipulate assets.
Because fraud techniques keep evolving, having this insurance gives businesses a vital safety net to absorb losses from a variety of complex fraud attempts – protecting both their bottom line and their reputation.
Identity Fraud Insurance has changed the way businesses protect themselves from fraud loss. Scale your business without increasing your fraud risk exposure.To explore these strategies in action and discover how insured onboarding eliminates fraud loss liability, frees capital for growth, and delivers measurable ROI, register to watch our webinar Fraud Loss Insurance – What Is It and Why It Matters Now.
