PARIS and BOSTON – June 3, 2021 – Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, today announced that Aéma Groupe, a longtime client of Shift (via the affiliate La Macif), is extending its collaboration with the company. Aéma Groupe is increasing its use of InsurTech and AI to standardize the mechanisms it uses to counter fraud, money laundering and the financing of terrorism across all its business lines. The overall aim of the partnership is to centralize all Aéma Groupe’s processes and data to enhance the performance of the AML/CFT mechanism.
A group approach to compliance with AML/CFT regulations
In keeping with its values as a mutual insurance company, in 2018 La Macif implemented a comprehensive strategy to uncover and fight fraud in its core Property and Casualty (P&C) business. Working with Shift, Aéma Groupe is extending these efforts to its health and contingency lines of business. Since AML/CFT strategies are highly regulated and call for detailed, uniform customer knowledge on the part of the different business units, Aéma Groupe – bolstered by its already successful collaboration in P&C – selected Shift.
“The success of the actions undertaken in the area of automobile insurance, and subsequently in home insurance, as well as the need to centralize all of our processes and automate the AML/CFT processes, led us to turn to Shift once again,” explained Christophe Raballand, Internal Audit and Compliance Manager of Aéma Groupe. “The Shift solution places AI and data science at the service of automation.”
An agile solution based on AI, designed to unify data, and facilitate decision making.
Aéma Groupe wanted to implement an automated solution unified to deliver a global vision of its activity. Sharing and processing the data of customers with several different contracts (P&C, life, health, and contingency) within a single tool will allow the group to be much more efficient because it will no longer need to process and analyze all the data manually, and duplicate activities can be avoided. This strategy also expedites the exchange of information between teams. Shift’s innovative AI-based technology enables the group to automate all commercial practices and processes, rationalize the extensive data relating to customer knowledge and improve its operational efficiency.
“Aéma Groupe is convinced of the value of our solutions, and as such has already used Shift to combat fraud for several years. We are proud to now be able to support the group in resolving other problems in all of its business lines. Our Shift Insurance Suite allows Aéma Groupe to create a close bond with those it insures,” said Benoit Legros, vice president, Customer Success, Shift Technology.
As well as using technology, Aéma Groupe also relies on the skills and market experience of Shift’s teams to continue evolving its organization in this field.
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.