This article is the fourth in a series about the LexisNexis® ID Compass suite of Identity Access Management solutions.

An increasing number of Americans are the victims of identity theft every year, and traditional methods of identity verification are becoming less effective as more identities become vulnerable to Account Takeover. As we shared in previous blogs in this series, 2020 has seen a major shift in how we all operate online, and cybercriminals aren’t taking a break from their fraudulent activities during this pandemic. To help protect your business and customers, you need to use a multi-layered approach to identity access management. Adding an additional layer of interactive, knowledge-based authentication can help you prevent identity fraud.

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LexisNexis® InstantID® Q&A is a real-time, knowledge-based authentication technology that introduces a risk-appropriate amount of friction when policyholders seek to access their online accounts and perform high value or risky transactions. Beginning with just a few consumer data points, InstantID Q&A searches billions of public records and alerts you to discrepancies and potential fraud. Diverse questions are built from unique identity information not easily accessible through internet searches or social networking sites.

By implementing this interactive, multiple-choice knowledge-based questionnaire—using unique identifiers, such as property, telephone and address history—insurance carriers can quickly and securely verify that a customer is who he or she claims to be. Benefits gained from utilizing InstantID Q&A include:

  • Protecting your organization from identity fraud in connection with account openings and updates, and changes in payment methods or change events.
  • Authenticating the identity of consumers—reducing your risk of identity theft losses—while helping to protect your customers.
  • Improving service to customers from remote service channels, such as point of service, online account management and call centers while fighting fraud at the point of customer contact.

Watch the video below to learn more about how InstantID Q&A can help you improve credentialing to ensure authentication of all individuals who could gain access to your systems.

Are you ready to add an additional layer of identity verification with authentication questions that can be customized for your specific organization? Give us a call at 800.953.2877 or reach out to your account manager and learn how we can help you employ our solution with your specific data, providing a personalized experience with just the right amount of friction for each policyholder going through step-up authentication.

To learn more about all of the products in our LexisNexis® ID Compass Platform visit our website.