Aioi Nissay Dowa Insurance Co., Ltd., headquartered in Shibuya-ku, Tokyo and part of MS&AD Insurance Group recently went live with its deployment of Shift Technology’s AI-based fraud detection solution Force.
Due to insurance fraud becoming more complicated and sophisticated, and the significant increase in network fraud, Aioi Nissay Dowa Insurance has been working with Shift to improve their claims process and has introduced the company’s Force to achieve more prompt and accurate claims resolutions.
The artificial intelligence (AI) behind Force uses both the insurer’s internal, and relevant third-party data, to execute sophisticated data analysis to efficiently detect suspicious claims. In addition, it instantly discovers and visualizes hidden networks by using technology that quickly analyzes large amounts of data to find relationships between parties. Therefore, the introduction of Force enables claim handlers to process insurance claims more quickly.
In addition, Mitsui Sumitomo Insurance Co., Ltd., part of the MS&AD Insurance Group, which already launched Force in their auto insurance since April 2019, will extend its operation of Force to other lines of business such as fire, accident and casualty on May 25, 2020.
Click here for Force case study of Mitsui Sumitomo Insurance