We have several universities who each have one IGAM account for multiple users; one person is in charge of final submissions while others do the work of entering the data. As a university, these people are scattered far and wide. Therefore the use of a verification code that is sent to one person's email address does not work for these institutions. (A shared email account will not work for these institutions.)
The ability to choose to use the security questions instead of the verification code would allow all of their users the ability to access applications and reports as needed.