Only 20% of insurance respondents report taking action against deepfakes or synthetic media

BOSTON, MASSACHUSETTS, USA, May 19, 2022 /EINPresswire.com/ -- Attestiv Inc., a leading digital media authenticity provider recently released the results of its Deepfakes In Insurance survey. This report follows up on the company’s 2021 Deepfakes in Business survey and is an examination of digital media threats within the insurance industry.

The 2022 Attestiv study involved professionals across the insurance industry to better understand their perspective on the threats of Deepfakes to insurance and the type of action plans they are adopting. As the threats from Deepfakes continue to emerge, it is anticipated that more insurance-related organizations will begin to take action, adopting and standardizing solutions.

“We need to think more broadly about ensuring the veracity of digital evidence, regardless of its source. This means deploying a new generation of detection tools across all media to seamlessly, rapidly ensure what we are looking at is real” says Bryan Falchuk, insurance industry expert. Fraud has always been a well-known challenge in insurance, the pace of claims automation is far exceeding the pace of automated fraud prevention, opening new risks and perhaps new opportunities.

The featured article in the current edition of Claims Magazine entitled “How deepfakes threaten insurance claims automation” explores these survey topics with perspectives from industry experts. Important survey results include:

- Over 80% of respondents indicated concern for altered or tampered digital media used for insurance transactions
- Only 20% of insurance respondents report taking action against deepfakes or synthetic media, even though altered media is the highest concern
- Over 50% of respondents are using self-service and straight-through automation or planning to do so in a year and only 22% of respondents report having a digital media validation solution in place proving that the pace of innovation is far exceeding the pace of fraud protection

Customer experience, which includes self-service and automation, ranked as a top priority for insurers. However, CX initiatives may open the door to digital media fraud if proper precautions are not taken. “While some insurance companies may be willing to risk fraud vulnerabilities in return for cost savings and an improved customer experience.” said Nicos Vekirides, CEO of Attestiv, “A safer, more controlled approach, enables the development of fraud technologies to keep pace with claims automation, ensuring businesses do not experience unforeseen increases in losses.”

Download the 2022 report, “Deepfakes: A Threat to Insurance” to see all findings.

About Attestiv
Attestiv offers a tamper-proof media validation platform focusing on insurance, healthcare, public safety, government, and media markets. Established in 2018, Attestiv verifies and protects the authenticity of digital media and data (photos, videos and documents), helping organizations build efficient processes, improve customer experience, and provide the highest standard for information exchange. Utilizing artificial intelligence and blockchain technology, Attestiv assures the authenticity of digital media at scale with attractive economics, enabling trust, chain of custody, digital transformation, cost savings, and fraud prevention. For more information, please visit us at https://attestiv.com.

Brie Pendleton
Attestiv Inc
brie@attestiv.com
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