A US-based P&C provider knew they had to deal with the potential of fraudulent claims and took the steps to provide their SIU with fraud detection technology. And while that solution was successfully flagging some potentially non-meritorious claims for investigation, their fraud team believed it wasn’t enough.

Addressing a missed opportunity to detect fraud

The rules-based solution the insurer had originally deployed was simply not identifying all the potential fraud the insurer’s claims handlers and SIU professionals felt was in the system. To rectify the situation, they turned to Shift Technology and its AI-native fraud detection solution, Force.

Force AI identified 73% more potential fraud

Having already invested in a technology solution that was working to a certain degree, the insurer was specifically looking for something that would very quickly add incremental value by identifying a greater number of claims for possible investigation. Since going live, Force has consistently identified 73% more potential fraud than the previously installed rules-based solution by using AI and a vast amount of data from multiple data sources with expert configuration and support by Shift Data Scientists.

3X return on investment

The insurer is currently processing more than 15,000 claims per month through Force and reported that their use of Shift for fraud detection generated a 3X return on investment in less than three months.

Property & Casualty

Discovering New Avenues for Reducing Costs

A leading provider of commercial insurance knew that undiscovered fraud was impacting their bottom line. After an extensive evaluation of the solutions available on the market, the insurer determined that...

Read More Read more

Travel

Empowering Claims Handlers to Investigate Fraud

A leading provider of travel insurance realized they had a significant problem. They knew fraudulent claims were an issue. They knew fraudulent claims were costing them money. At the same...

Read More Read more

Accurate fraud detection is the key to automated claims decisions.

Subscribe to news and updates from Shift Technology.

  • This field is for validation purposes and should be left unchanged.
twitter linkedin instagram arrow-down arrow-left arrow-right close-icon search-icon checkmark-icon