T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), dba Trust Stamp, has announced that it will deploy its low-code orchestration platform for a Fortune 500 Insurance company, adding to the 35 financial institutions already implementing its Orchestration Layer.
The privacy-first identity company explained that the platform streamlines the delivery and implementation of its proven technologies. With more insurance applications and service processes moving online, it noted that the threat of third-party fraud has continued to rise, particularly account takeover (ATO), which is up 25% over last year.
“Our partner is an industry leader who has built their reputation on doing the right thing for over 5M clients and their families,” Trust Stamp president Andrew Gowasack commented in a statement.
“Their approach has helped them build an asset portfolio of over $250 billion. We believe our privacy-first identity technology reinforces that commitment as we help them better protect and serve customers opening new accounts.”
Since participating in the OnRamp Insurance Accelerator, the leading accelerator for insurance innovation, Gowasack said Trust Stamp has engaged with the insurance sector to understand its unique needs.
“We are encouraged by our first partner’s clear understanding of our privacy-first approach and we are already working with a second insurance company that is actively exploring implementation,” he added.
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services.
Contact the author at stephen.gunnion@proactiveinvestors.com