Startup spotlight: Shift Technology tackles insurance fraud
The company currently offers a suite of services for health, P&C, life, worker’s compensation and travel, each focusing on specific threats while also mitigating false negatives and improving the efficiency of the investigator.
With a team of insurance-focused data scientists, customer advisors and project managers, Shift Technology has managed to establish a far-reaching presence globally, with offices located in Paris (HQ), London, Tokyo, São Paulo, Toronto and more.
“The insurance industry is driven by decisions. Is the claim legitimate, or does it show indications of fraud? Can a policyholder manage their claim online, without requiring intervention by the insurer? Or can the claim be identified as appropriate for straight through processing and rapid payment by a claims handler?” stated the company in a .
“We’ve made automating and optimising claims and other policy lifecycle decisions our mission, helping our clients deliver exceptional customer experiences.”
“We’ve always believed that fraud detection is only part of the equation and that the ability to accurately and efficiently separate suspicious claims from legitimate ones is an important part of delivering exemplary customer experiences.”
Claiming to have analysed over 1.5 billion claims so far, a number that continues to increase daily as more leading insurance companies onboard their technology, the company is emblematic of a prevalent industry trend: .