Unfortunately, that’s not the whole story. Resolving an identity fraud incident is not only costly for victims, it’s a long and stressful ordeal. If your employee falls victim to identity theft, they are then faced with managing endless phone calls, mounds of paperwork, identity theft affidavits, and potentially hiring an attorney to help clean up the mess.
What’s more, fully resolving an identity theft incident, more often than not, can’t be achieved with a quick phone call. From new account fraud to account takeovers to credit card fraud, the more complex the identity fraud incident, the longer it can take your employees to resolve it.
With 79% of consumers ranking “being a victim of identity theft” as one of their top worries*, it is no wonder that U.S. consumers – your employees – see identity protection as a key benefit. But what is the benefit to your organization? Use our calculator to see what the return on investment in providing your employees comprehensive identity protection, specifically Iris Identity Protection, would be. Don’t let your employees’ personal problem become your organization’s personnel problem.
*2017 ID Theft & Cyber Crime Research Report, Generali Global Assistance
This is due to the fact that most of the legwork in resolving an identity theft incident must be accomplished during regular office hours, especially if the employee needs to contact their financial institution, attorney, etc. And as you may well already know, the odds of having multiple employees resolving an identity fraud incident increases dramatically for organizations with large, global offices. Additionally, compromised personal data stolen by identity thieves can include sensitive corporate data that could potentially lead to large-scale data breaches.
1. Average Number of Employees at Large U.S. Enterprise is 3,286 - https://www.census.gov/content/dam/Census/library/publications/2015/econ/g12-susb.pdf
2. Average Salary of Employees at Large U.S. Enterprise is $66,456 - https://www.bls.gov/news.release/pdf/wkyeng.pdf
3. Average Benefits cost is 37% of salary - https://www.bls.gov/news.release/pdf/ecec.pdf
4. Average Employed U.S. Adult Works 1,811.16 Hours Per Year - https://www.fool.com/careers/2017/12/17/heres-how-many-hours-the-average-american-works-pe.aspx
5. Employees that will have an ID Theft Event in a Year (%) - https://www.javelinstrategy.com/coverage-area/2018-identity-fraud-fraud-enters-new-era-complexity
6. Work Hours Spent Handling ID Theft/fraud event - https://www.economist.com/finance-and-economics/2017/09/14/how-to-protect-yourself-against-the-theft-of-your-identity
“In this day and age, I don't seem to go a week without some issue of someone trying to steal [my] info, money, or both. I have called GGA to help me numerous times and they are always sympathetic to my concern and help me every way they can. I am sickened by the amount of dishonest and criminal behavior out there; all in the name of greed. I am truly thankful for GGA and their employees for helping my wife and I stay safe. Thank you!!!”
– Identity Protection Customer
“Every customer service interaction I've had has been positive and resulted in successful resolution in a timely, courteous, and professional manner.”
– Identity Protection Customer