Paris and Boston, May 25, 2021 - Cegedim Insurance Solutions, a major player in software solutions and business services for personal insurance, and Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, have combined their expertise to offer the French health and contingency insurance market key solutions for fighting fraud and money laundering activities (AML/CFT).
The partnership is a direct response to the evolution of fraudulent behaviors impacting the health and contingency insurance market. Cegedim Insurance Solutions, which already offers a solution to vision insurance providers, wished to expand its offerings to a greater variety of carriers. Shift Claims Fraud Detection - a solution already adopted by major personal insurance actors in France - uses artificial intelligence (AI) to more effectively and accurately identify risks and detection fraud, abuse and erroneous payments. As part of the offering, Cegedim Insurance Solutions provides access to a professional experts unit dedicated to investigating the cases identified as suspicious.
The functional scope of the Shift solution combined with Cegedim Insurance Solutions’ professional expertise in the processing of the personal insurance data makes for an innovative, global solution that capitalizes on numerous instances of experience feedback.
“The complementary nature of our expertise, served by powerful algorithms, is the cornerstone of this partnership,” explained Philippe Simon, President of Cegedim Insurance Solutions. “It also feeds a mutual goal: leadership within the field of the fight against insurance fraud in France. We share Shift’s vision of added value for our clients.”
Cegedim Insurance Solutions will exclusively distribute the Shift Claims Fraud Detection solution to its clients who have ACTIV’Infinite software and Cetip third-party payment services.
“By joining forces with Cegedim Insurance Solutions, we intend to offer French insurers a high added value solution so that they can perform better in the fight against fraud and money laundering,” stated Jeremy Jawish, CEO and co-founder of Shift Technology. “The native integration of our two solutions will allow us to speed up insurers’ transformation projects and fight fraud together, to the benefit of all policyholders.”
About Shift Technology
Shift Technology delivers the only AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, the Shift Insurance Suite helps insurers achieve faster, more accurate claims and policy resolutions. Shift has analyzed billions of insurance transactions to date and was presented Frost & Sullivan’s 2020 Global Claims Solutions for Insurance Market Leadership Award. For more information, please visit www.shift-technology.com.
About Cegedim Insurance Solutions:
Cegedim Insurance Solutions is an innovative company serving the transformation for life and health insurance players: Insurance companies, Mutuals, Provident institutions and Brokers, in France and internationally. To do so, Cegedim Insurance Solutions offers both SaaS solutions (Services hub, portals, extranet), business services (Third-party Payment, Health Data Flow Management and Third-party Administration) and expert services (Analytics, organizational and management consulting) in health and provident care. To learn more, please visit: www.cegedim-insurance.com.
Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 5,300 people in more than 10 countries and generated revenue of close to €500 million in 2020. Cegedim SA is listed in Paris (EURONEXT: CGM). To learn more, please visit: www.cegedim.fr.