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The Total Economic Impact of Thomson Reuters ID Risk Analytics Infographic
Thomson Reuters enlisted Forrester Consulting to look for cost-saving benefits to government agency unemployment divisions that deploy ID Risk Analytics.
The Total Economic Impact™ Of Thomson Reuters ID Risk Analytics
Through a customer interview and data aggregation, Forrester concluded that
Thomson Reuters ID Risk Analytics (IDRA) has the following three-year financial impact.
NPV
$2.61M
Fraud loss cost avoidance
ROI
178%
Improved productivity for fraud investigators
$466.3K
BENEFITS PV
$4.08M
VOICE OF THE CUSTOMER
“We really didn’t have a fraud detection program like IDRA, or anything to categorize fraud like IDRA, prior to the pandemic. We were just going through and trying to lock down all these claims before they pay out large sums of money.”
Criminal investigator, state government unemployment insurance division
“IDRA gives us a good visual of what we’re looking at for our system as a whole for fraud. We felt like we were just treading water and had been trying desperately to identify everything. This gives us a beacon— a place to start.”
Criminal investigator, state government unemployment insurance division
THOMSON REUTERS ID RISK ANALYTICS BY THE NUMBERS
- 9 hours saved weekly per fraud investigator
- 7% attributable to IDRA for pausing or stopping fraudulent claims
- $3.6 million in fraud loss cost avoidance
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