Insurance-related fraud is one of the biggest cost factors when claims are made against Insurance companies.
Accidents resulting in insurance claims involving vehicles, machines, plants, and devices, often result in a substantial loss for the insurer. In many instances, it is often not possible for the insurer to determine if the part or device that caused the accident or damage was the original from the manufacturer.
Digital identities of parts, components, and devices provide reliable authentication of their origin. Based on such digital identities, it is easy to authenticate a single component, part, or device. Furthermore, it is also possible to determine if it was altered or manipulated. Even the transfer of this data is no longer an issue as it can be achieved in a digital and secure way, ensuring that the data is secure against fraud and manipulation during transit, use, and storage.
Secure authentication through digital identities of parts, components, and devices reshapes claim management, enhances processes and efficiency, and minimizes fraud.
Applications for Authentication of Component, Device and Part Origin
Key Injection
Secures payment processes and identities of smart devices by injecting keys generated by HSMs.
Public Key Infrastructures
The building block for establishing a trustworthy and secure environment of connected entities. PKI is the foundation for secure authentication of entities, confidentiality in their communication and integrity of data generated and exchanged by them.
Tokenization
Replacing sensitive data with non-sensitive tokens to enable secure business operations without sharing sensitive information.
