Gabriel Fontaine
Gabriel Fontaine,
Senior Product Manager for Identity Access Management (IAM)

August 19, 2020

What if I told you that you could utilize a phone number to deliver a shorter route to obtaining and verifying information needed to provide a requested quote? It’s not as unusual as you may be thinking.  

Once upon a time, before the proliferation of mobile phones, most Americans had a single phone number for their household. If you moved – especially out of state – you acquired a new phone number for your new home. These days, consumers are more likely to have cellphones than landlines. They’re also more mobile, with estimates that about 45 million people move each year in the United States. And, unlike previous generations, they quite often take their cellphone numbers with them.

Disparate data sources

Many insurance carriers maintain various internal databases with consumer information. Each of these disparate databases, however, may contain missing, outdated, incorrect or inconsistent information for a single consumer. With just a few customer data points, insurers can leverage data prefill solutions from LexisNexis® Risk Solutions to incorporate more complete and accurate consumer data into their workflows to reduce errors and process quotes quicker.

Taking it a step further, linking a phone number to its current owner enables you to quickly verify the person making the request for a quote or new account activation. Pretty much every adult has a unique phone number that can be used to link to other personal data that is useful in verifying identity.

Why a phone number? Accurately associating a phone number with an identity is a key step in streamlining your essential transactions while defending your customers – and business – against fraud. It’s no secret that cybercrime is a growing problem, especially now with so many people working from home and online more. To keep customers safe, insurers actively attempt to find answers to these questions:

  • What are the best subjects for a phone number, and what are the best phone numbers for a subject?
  • How recently has the phone number been ported?
  • How long has this subject owned or been associated with this phone number?
  • Are there any suspicious activities such as phone spoofing or unusual numbers of authentication requests associated with the phone number?

When questions such as these are accurately answered, you can simplify your customer service activities and speed up quoting and new account set-up while reducing the chance of fraud.

Beyond the quote

After a policy has been purchased, your new customers will often need to register their personas to accounts tied to their policies. While one-time authentication codes have been used for years for identity verification, when you combine the phone number with additional data points, you can reduce friction for your legitimate customers. By simply asking for the right information at the right time, you can amplify your user experience and elevate your customer journey.

At LexisNexis, our robust data assets – including phone numbers – allows us to build a complete and comprehensive picture of more than 283 million U.S. consumers. Our innovative solution, LexisNexis® Phone Finder, matches phone content with our industry-leading repository of identity information to return relevant, rank ordered-connections between phones and identities. Powered by LexID®, a unique, persistent identifier that works in conjunction with our proprietary linking technology, our databases not only contain historical identity information for U.S. adult consumers, but they also are refreshed regularly with new records from various data sources.

To learn more about connecting phone numbers to accurately confirm identities and improve the customer experience for your business, contact us today.