Challenges in the Device Insurance Market
Complex buying journey resulting in high bounce rates and low conversions
There are significant levels of fraud within the industry, particularly related to mobile phones
Highly competitive market where differentiation is difficult
High cost for fraud investigations given the device value
Confirming whether the device is on the GSMA block list for lost/stolen devices is time-consuming
Lack of device intelligence solution results in an inability for granular pricing based on the device
Get the device right first time to maximize conversions
It can be difficult to know what the exact model of a device is...is it an iPhone 14 Pro or an iPhone 14 Plus? Is it a Samsung Galaxy S23 or S23+? Reduce the risk of incorrect submissions by users - let DeviceAtlas correctly identify and verify user devices in real time.
The DeviceAtlas QR code reveals the device name and model when scanned, and also verified whether the device is authentic or non-authentic.
Increase conversions and remove complexity during the device insurance quote process with a real-time device identifier and verifier tool. Scan the QR code on a mobile device to try it out!
Core benefits for Device Insurance
Deter fraud with real-time device data
Is the device what the user says it is? Does the device exist? Is it in the user's possession? Does it work? Is it authentic?
Answer these fundamental questions with DeviceAssure's real-time insights to deter fraud and decrease fraud risk.
Accurate, real-time differential pricing
Develop a risk profile for users based on the authenticity of a user's device when checked against the DeviceAssure library.
This information can be used for competitive advantage such as differential pricing based on device specifications, customer journey simplification, etc.
Streamline underwriting operations
Allow underwriters to improve manual risk selection and pricing processes using more granular device data.
DeviceAssure data acts as an enabler and source for AI and machine learning models that are increasingly being used to improve underwriting operations.
Significantly improve claims KPIs
A deep relationship with the GSMA enables DeviceAssure to determine whether a device has been stolen and is on the global block list. DeviceAssure also identifies cases of IMEI modification, installed ROMs, rooting/jailbreaking or mismatches in device specifications.
These insights enable insurers to validate claims, increase fraud detection rate, claim closure rate and decrease average claim duration.
Enhance claims intelligence
New technologies are changing the face of insurance - many competitors are using or investing in AI and machine learning to alter traditional insurance processes and costs. Two key elements are: data and its quality
DeviceAssure provides consistent, accurate and real-time device assurance data, providing customers with the quality data it needs to make quality decisions, gain a competitive advantage over competitors and reduce the risk associated with those decisions.
Key Features
Remote
Verify devices anywhere in the world
Quick
Results in less than 1 second
No PII
No personal info, GDPR compliant
How it Works
SDK/JS library is embedded on the client website/app and visited by the device
The device is analyzed and non-PII data is sent to the DeviceAssure service
A series of checks are performed to assess the device’s authenticity
The results are returned to the client for measurement and/or intervention
Verify and authenticate devices with DeviceAssure by DeviceAtlas
Contact us now to set up a quick discovery call. We'll discuss:
- Your specific needs and business use case
- A technical overview of our services and the data properties we provide
- How to set up an enterprise evaluation for your team & the next steps to follow
