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Warranty fraud is initially a relatively small issue that, if left unchecked, can erode an OEM's profits and reputation. OEMs have lost millions over the years because of fake warranty claims, and they often don't see it coming.

The industry estimates these fraud claims account for about 3-5% of total warranty expenses, which is enough to make any OEM tremble. The solution? Smart validation, together with efficient warranty management software, prevents warranty fraud before it gets out of contro

In recent years, there has been a notable increase in warranty fraud costing the entire industry USD 600 million as per a report from ASW. In fact, many promising brands lose 2-4% share of their profits due to such occurings, resulting in a palpable revenue decline.

In a consumer-first marketplace where businesses are striving to keep their customers happy, it can be very difficult to identify fraud and take action against it. Therefore, OEMs require a robust warranty management system to not onl