INDUSTRY

Insurance

Streamline policyholder approval, optimize payment processes, and deliver more precise quotes to potential customers

Industry Overview

Insurance companies face growing complexities in onboarding new policyholders, verifying identity and payment details, and managing risk, all while trying to protect against rising fraud threats. Insurance fraud remains a widespread issue in the U.S., costing businesses, insurers and consumers billions each year. The challenge lies in balancing fast, seamless customer experiences with rigorous risk and fraud prevention measures. Errors in identity verification, invalid bank account details, and missed payments due to insufficient funds can disrupt the onboarding process, increase operational costs, and lead to lost revenue from policy cancellations or fraud.

ValidiFI® offers a comprehensive solution to these challenges by providing tools that enhance accuracy, security, and efficiency throughout the insurance customer journey.

How ValidiFI® delivers intelligence for Insurance

Validate Accounts
in Real-Time

Confirm the legitimacy of a policyholder’s bank account, verifying that it is active, valid, and capable of processing payments

Confidently
Assess Risk

Minimize the risk of payment failures, policy cancellations, and costly returns due to invalid or closed accounts.

Secure
Claims and Payouts

Ensure payouts are sent to verified and legitimate accounts and reduce likelihood of missed payments due to insufficient funds or invalid accounts

Streamline
Policy Issuance

Streamline processes for verifying identity, bank account and eligibility to automate approvals of new policyholders

Access
Predictive Data

Leverage technology and predictive data insights to reduce operational losses, optimize payment processes, fueling business growth

Detect and Prevent
Fraud

Identify and prevent potential fraud in claims and premium payments, protecting both your revenue and customer trust

Predictive data for smarter decisions

We collaborate with a diverse range of insurance providers, including those specializing in personal, health, and life insurance to:

Streamline policyholder onboarding
Validate bank accounts instantly
Ensure smooth claims and premium payments
Detect and mitigate fraud
Confidently approve policies

Solutions for Insurance

vIndex™

Evaluate financial institutions for increased chance of risk before accepting or sending payments

vAccount™

Our vAccount suite offers scalable account validation for compliance, risk mitigation, and ownership verification

vCredit®

Predictive credit risk score and attributes, leveraging proprietary bank account and payment intelligence

vFraud®

Detect high-risk bank accounts, phone numbers, and emails to prevent fake accounts and fraudulent transactions

vConnect®

Access cash-flow underwriting and consumer-permissioned transactional data from users’ bank accounts

vInsights™

Categorization and cashflow underwriting report to enhance affordability and risk evaluation

Related resources

Blog

How ValidiFI is Positioned to Meet Nacha’s Upcoming Rule on WEB Debits and Fraud Monitoring

Blog

As we move closer to March 2026, the National Automated Clearing House Association (Nacha) is set to implement a new rule addressing fraud prevention and monitoring for WEB debit transactions. This...

Blog

Why ACH is Becoming a Smarter Choice Over Credit Cards

Blog

Credit Card Fraud is Rising—Is It Time to Rethink How We Pay and Receive Payments? Warren Buffett, one of the most respected investors in history, has a straightforward piece of financial advice:...

Blog

Bank Account Intelligence: The New Frontier in Fraud Prevention and Credit Decisioning

Blog

Unlocking Insights from Bank Account Data—Q&A with ValidiFI CEO John Gordon A bank account provides a direct window into a consumer’s or business’s financial behavior. With the right tools...

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Insurance