With License Validation, you can detect fraud earlier in the policy lifecycle by confirming the driver’s credentials are valid before purchasing a full MVR. On average, 5% to 15% of a carrier’s queries are inaccurate due to fraud or typos. What are the Benefits of License Validation? Identify Fraud Early in the Lifecycle License Validation confirms that the information provided by an applicant matches the information maintained through the Motor Vehicle Administration – for 80% less than the cost traditionally incurred through the DMV. Carriers can combat these costly tactics early in the policy lifecycle with Volta’s License Validation tool. For auto insurance carriers, having the right tools place to detect fraud during quote and bind is critical in maintaining profitability. According to the Insurance Journal, anywhere from $80 billion to $200 billion is lost to insurance fraud each year. Rate evasion, fraud and premium leakage are major concerns affecting profitability in the insurance space. Read on to discover the unique benefits and features behind Volta’s License Validation tool. Our License Validation services now include 39 states and counting. With this in mind, we are excited to announce that our comprehensive insurance software, Volta, is the only solution on the market to offer License Validation in the state of California. At SambaSafety, we are constantly growing and expanding our services – it’s why we are able to offer the most comprehensive driver data network in North America.
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