When it comes to underwriting, accurate applicant data is the foundation of sound decision-making. Yet after processing hundreds of thousands of applications through Prodigi, we’ve found that inaccurate or incomplete information is more common than many organizations realize.
Nearly 4.5% of applications contain an incorrect date of birth or Social Security number. While some discrepancies may be simple data entry errors, others may be intentional attempts to obscure an applicant’s identity or history. Regardless of the reason, inaccurate identifiers can lead to false-negative search results and ultimately inaccurate risk assessments.
Our data also shows that nearly 2% of applicants have criminal records identified through our automated searches. One particularly notable trend involves applicants who report that they do not hold a driver’s license. Because no motor vehicle record (MVR) is ordered, serious driving-related offenses, including DUI convictions and, in some cases, vehicular homicide, may otherwise go undetected. Our identity validation and criminal history process helps uncover these records, providing a more complete picture of risk.
Prodigi’s automated identity verification and criminal history intelligence is designed to integrate seamlessly into the underwriting process. The solution provides:
- FCRA-compliant results you can confidently act upon
- Clear, easy-to-read PDF reports
- Structured data output for integration with underwriting rules engines
- API connectivity for automated request submission and response delivery
- Fast turnaround, with nearly 90% of results returned within minutes
- Competitive pricing that delivers exceptional value
Small inaccuracies in applicant information can have significant downstream consequences. By validating personally identifiable information (PII) and uncovering hidden criminal history early in the underwriting process, insurers can make more informed decisions, reduce risk, and improve overall portfolio quality.
Interested in learning more?
We’d welcome the opportunity to show you how Prodigi can strengthen your underwriting and claims processes. Call us at (800) 202-4202, email us at prodigi@DIGroup-US.com, or click here to schedule a time that’s convenient for you. We’d love to discuss how automated identity verification and criminal history intelligence can help you make more confident decisions.