Back in April 2020, Shift Technology launched an exciting new project when we published the inaugural Shift Technology Fraud Insights report. The idea was to take a look at the fraud trends that were impacting the global insurance industry and put some analysis around them. We published three editions of the report in 2020: one which looked at the fraud schemes being perpetrated by body shops and other services providers; one that tackled insurance fraud associated with the COVID-19 pandemic; and finally the last edition for 2020 that explored fraud activities impacting the global health insurance space.
In January 2021, Shift made an exciting move when we launched the Shift Insurance Suite and expanded our efforts to apply AI-driven decision automation and optimization to additional processes across the policy lifecycle. In addition to the fraud detection capabilities for which the company is well known, we expanded our claims automation solution and introduced new products covering subrogation, underwriting fraud, and financial crime detection.
In conjunction with this exciting evolution of our product strategy, we decided a revamp of the Shift Technology Fraud Insights report was also in order and re-booted the report as Shift Technology Insurance Perspectives. In this first issue of our new publication we dig deep into the claims process to better understand how the claims process has changed over the past five years.
If you’re interested in knowing more about:
- auto insurance claims during the COVID-19 pandemic;
- how quickly, on average, claims are being settled;
- the percentage of claims closed within one week’s time;
- how the number of times a claims professional “touches” impacts a claim;
then download your copy of the new Shift Technology Insurance Perspectives today!