Discover the impact of real-time detection on fraud prevention in the insurance industry. In our latest video, one of our Customer Success Managers shares a compelling success story about a high-value vehicle claim that was intercepted before payment, saving our client an impressive $91,000. Watch now!
This video is part of a series of interesting business and use cases, featuring several of our customer success managers.
Shift's real-time detection capabilities and automated alerts enable customers to proactively identify and prevent the payment of fraudulent claims at scale. For this particular customer, real-time detection accounts for about 25% of their overall alerts, and has an impact of $1.5 million annually.
Real-time detection works by using advanced detection capabilities to identify and automate alerts for potential fraud, and halt payment until the claim is investigated. For example, this customer was ready to pay a claim for a high dollar vehicle value when real-time detection fired an alert. As a result, the customer was able to investigate prior to payment, and saved them from paying a $91,000 claim.
