PORTLAND, OR--(Marketwired - Dec 15, 2016) - iovation, the leading provider of device intelligence for authentication and fraud prevention, today announced it has been named "Outsourced Partner of the Year - The Best Buddy Award" in the Post Digital Insurance Awards. This is the third consecutive year Post Magazine has recognized iovation in its insurance industry awards. Judges from Post Magazine -- a UK-based insurance publication founded in 1840 -- and Europe's leading business advisory and startup accelerators selected the company for its device-based fraud prevention solutions successfully helping UK insurers reduce risk.
"As insurers innovate, they are moving the customer experience such as claims processing and policy issuance online. And while insurers are building 360 degree views of their customers through an omni-channel approach, it opens the doors for fraudsters to attack," said Tom Pak, Vice President of Global Sales at iovation. "We are honored to win this award and help UK insurance companies harness new technologies, while enabling them to prevent fraud and enhance the consumer experience. We'll use this recognition as motivation to continue building upon and delivering our robust fraud-prevention technologies."
"Our partnership with iovation has enabled us to offer fraud detection and prevention solutions which benefit our whole panel of car and van insurance partners," said Dan Cassell of UK insurance aggregator Gocompare.com. "We can also provide even further value to our partners who also use iovation, giving them more control over the quotes we send them. The abilities that iovation give us to identify and block fraud at the earliest step in the quote process are extremely powerful in the fight against fraud."
By leveraging iovation's intelligence about billions of internet devices, insurers can identify and stop fraud at point-of-sale, claim, mid-term adjustment, renewal or even at post-sale detection. The device insights help insurance companies identify risky transactions from devices already associated with fraud and abuse at other businesses -- dramatically increasing operational efficiency while enhancing the online experience for "known good" customers.
Post Magazine recognized iovation during an award ceremony held on Nov. 18, 2016 in London. The publication similarly named iovation the "Outsourced Partner of the Year" last year, and the "Claims Technology Partner of the Year" in 2014.
iovation protects online businesses and their end users against fraud and abuse, and identifies trustworthy customers through a combination of advanced device identification, shared device reputation, device-based authentication and real-time risk evaluation. More than 3,500 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database of billions of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company's device reputation database is the world's largest, used to protect 18 million transactions and stop an average of 300,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit iovation.com.