A World With No Data Breaches: Is It Even Possible?
On July 6, Marriott, the multinational hotel franchise, announced a second staggering data breach since just the beginning of this year....
ANONYBIT FOR INSURANCE
Transform the future of insurance with advanced privacy safeguards and state-of-the-art digital security.
In the rapidly evolving world of insurance, staying ahead means embracing innovation without compromising on trust. Anonybit is the game-changer that empowers insurers to revolutionize the way they handle sensitive data while safeguarding user privacy. Anonybit doesn’t just prioritize privacy for insurance fraud prevention and data security; it elevates the client experience when dealing with insurance companies. Our patented technology protects policyholder information from potential threats without compromising on operational efficiency or claims processing speed, ensuring the ultimate in insurance fraud prevention.
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"We have been impressed by the Anonybit team’s deep industry experience, as well as the company’s traction with identity verification providers and other industry partners."
Discover how Insurance Companies use Anonybit
Blocklist Checks
Using the Anonybit decentralized biometric backend for insurance fraud prevention, search existing records to ensure that someone is not already in the system under another name.
Authentication
Invoke Anonybit to ensure someone is who they claim to be at any point in the user journey - login, step up, claim reporting, help desk and more for stronger insurance fraud prevention.
Account Recovery
Instead of passwords, security questions, OTPs that can be easily circumvented or authenticator apps and tokens that are cumbersome, use Anonybit's privacy-preserving biometrics for fast and easy account resets.
The Anonybit Genie closes the circle of identity for insurance companies
Easy IDV integrations
Anonybit easily works with existing Identity Verification providers to ingest images captured during the digital onboarding process. If there is no IDV in the workflow, Anonybit provides an intuitive selfie capture interface that checks for liveness, deepfakes, and injection attacks.
Prevent duplicates, synthetics, and blocklisted users from enrolling
Today’s fraudsters know how to get around today’s KYC and IDV protocols. The one thing they cannot hide is their face. The digital onboarding module runs a search against the existing biometric profiles to give you a clean, trusted biometric directory that you can rely on for all your fintech security needs.
Patented backend based on multi-party computation
Biometrics are sharded and stored across a multi-party cloud environment such that no party has access or knowledge of the data held by another party at any time. Each component of the system is encrypted with its own cryptographic key, which is not accessible by any administrator, eliminating insider threats.
Link any attribute to the decentralized biometric profile
Connect credentials, tokens, FIDO PassKeys, and more to a trusted biometric profile to create the foundation for strong, two-factor biometrics downstream.
Identity validation based on “something you are”
Leveraging state-of-the-art NIST-tested algorithms with built-in liveness detection, Anonybit provides reliable, strong authentication regardless of device or channel – digital, physical, chat, or call center.
Streamlines account reset
Anonybit neutralizes this attack vector, while reducing authentication time by 70%, lowering fraud and improving the user experience, with the savings going straight to your bottom line.
Anonybit works with your existing tech stack
In today’s world, where data breaches pose constant threats, building trust is critical for insurance providers. Anonybit helps insurers lead the way in protecting sensitive policyholder data with cutting-edge privacy solutions. Our platform integrates effortlessly into your current systems, enhancing fraud prevention and data security without overhauling your processes. Whether you’re scaling your business or maintaining a legacy operation, Anonybit provides a seamless, efficient way to stay ahead in privacy and fraud protection, empowering your brand to stand out in the insurance market.
Looking for a different integration?
Talk to our solutions team today.
Why insurance companies love Anonybit
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Unified identity
Leverages biometrics to eliminate the gaps exploited by fraudsters. Works across devices. Not susceptible to device takeover, unlike traditional solutions that fall back to PINs, and KBA.
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Streamlined UX
Consistent experience across mobile, web, call center and even physical channels, with no one-time passwords, emails or knowledge questions that are easily phished and forgotten and disrupt the user experience.
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Privacy compliant
Enhances compliance posture with GDPR, CPRA, etc. and reduces concerns around storing and managing biometrics and other sensitive data.
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Multiple use cases
From securing claims processing and underwriting to enabling seamless policy management and fraud prevention, Anonybit serves as your biometric system of record.
RESOURCES
Stay current on the latest in identity, biometrics, fraud prevention and privacy compliance.
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BlogMinimizing Risk in The Rush to Passwordless Authentication
In recent years, banks and financial institutions have been shifting towards passwordless authentication as a means to enhance security and meet...
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BlogGetting Multi-Factor Authentication Right
Multi-Factor Authentication (MFA) has now become a ubiquitous requirement for online services. Whether they seek to qualify for cyber-insurance coverage or...
Are you ready to eliminate the risk of data breaches and account takeover fraud?
Get rid of central honeypots of data. Embrace biometrics across the user lifecycle.