SCOTTSDALE, Ariz. March 15, 2011 — CyberScout, the nation’s premier identity management and data risk management services provider, and Narragansett Bay Insurance Company (NBIC), a leading Northeast homeowners insurance provider, have joined forces to offer identity protection and identity theft resolution services to customers. NBIC customers now enjoy CyberScout’s LifeStages™ Identity Protection Services for all homeowner customers, and their family members, throughout the times in life when they are most vulnerable to identity theft.
According to the 2011 Identity Fraud Survey Report by Javelin Strategy & Research, the average consumer out-of-pocket cost due to identity fraud increased 63 percent from $387 in 2009 to $631 per incident in 2010. Along with the higher cost of resolution fees, the average time spent resolving identity fraud issues increased from 21 to 33 hours, emphasizing the need for better consumer education and resolution services. Recognizing this trend, NBIC customers have the convenience and benefit in knowing that their insurance company can help resolve crises ranging from fire loss to property damage, personal law suits and identity theft solutions.
“NBIC devotes a great deal of its resources to helping our customers avoid losses of all kinds and protection against identity theft is becoming increasingly necessary,” said Bob Khosropur, Chief Claims Officer, NBIC. “As an insurance company, we not only protect customers for covered losses, we also provide them with the education and tools to keep them safe and protected. By partnering with CyberScout, NBIC is able to offer a unique bundle of services to avoid the inconvenience and cost of identity theft, at no additional cost to customers.”
CyberScout fraud specialists provide high-touch service to victims from the initial call for help until the case is resolved. Their expertise covers a range of issues, from proactive measures to take throughout a person’s life to true identity theft and account takeovers. The fraud specialists work one-on-one with victims and are available 24 hours a day, seven days a week until resolution is complete.
“Identity theft has grown in significant complexity, often leaving victims confused, frustrated and unaided in trying to regain their reputation and identity,” said Matt Cullina, CEO of CyberScout. “NBIC is taking a comprehensive approach by offering identity management services to educate customers about how to protect themselves, as well as help them work through issues surrounding identity theft, should a situation occur.”
