Corroborate applicant data with third party information and analyze as a whole using AI to verify risks from underwriting through to renewal.
Underwriting Fraud Detection
What happens when a policy applicant misrepresents themselves or details about their policy during the onboarding process? Typically, they face a low chance of detection and enjoy lower rates. Meanwhile, the insurer bears the cost. Shift Underwriting Fraud Detection is an AI analysis solution that enables insurers to flag applicants who supply inaccurate or false information, which dramatically reduces the risk of misrepresentation in the short term, and claims later in the life of the policy.
- AI-powered identification of potential fraud and misrepresentation at the point of underwriting
- Aggregate scoring with detailed supporting information to help underwriters make more informed decisions quickly
- Internal & 3rd party data integration enables insurers to evaluate and identify fraudulent entities accurately, even those who attempt to obscure their identities
- Integrates with insurer core systems & underwriting tools
Enables underwriters to make better decisions about potential misrepresentation, fraud, and other risks prior to policy issuance