Insurer to Benefit from Using Artificial Intelligence to Uncover Potential Fraud
PARIS and BOSTON – April 9, 2020 – Shift Technology, a provider of AI-native fraud detection and claims automation solutions, today announced that it is partnering with Cigna, a leading global health service company to strengthen its fraud detection capabilities within the claims process. Driven and supported by its Innovation Hub, Cigna will evaluate Shift’s fraud detection solution Force to support its International Operations Unit, which designs, implements and manages international group health insurance and employee benefits programs for globally mobile employees.
Force’s AI models can tighten the level of security by identifying potential fraud perpetrated by individuals. They further enhance security by making correlations within the insurer’s full data set, allowing the technology to build and connect the “social networks” of related entities to detect and extract only the most highly suspicious “sub-networks” within the larger networks.
“Applying Force’s AI-native technology to the health insurance claims process significantly increases the discovery of fraud, waste and abuse cases before the claim is paid,” said Jeremy Jawish, CEO and co‑founder, Shift Technology. “This is incredibly important - it gives Cigna the power to fight fraud proactively rather than ‘after the fact’ when payments for illegitimate claims may have already been made.”
“Fraud is not a ‘victimless’ crime, and it’s not only insurers that could be hurt by it. Everyone, especially policyholders, lose when fraud goes undetected and non-meritorious claims are paid,” explained David Curlett, Head of Fraud Waste and Abuse at Cigna. “We’ve long taken a holistic approach to fighting fraud and continuously look for innovative ways to improve our capabilities in fraud detection. Identifying suspicious claims earlier and better understanding why they were flagged, means we can act even quicker to investigate and reach the best possible resolution for our customers and clients.”
Cigna works relentlessly to prevent all sources of fraud and to protect its customers, clients and stakeholders through its multi-layered Fraud, Waste and Abuse (FWA) protection systems. In addition, it has a comprehensive risk management program combining a set of preventive and detective fraud checks monitors and protects against internal fraud. The solutions offered by Shift fit firmly within this paradigm.
About Shift Technology
Shift Technology delivers the only AI-native fraud detection and claims automation solutions built specifically for the global insurance industry. Our SaaS solutions identify individual and network fraud with double the accuracy of competing offerings, and provide contextual guidance to help insurers achieve faster, more accurate claim resolutions. Shift has analyzed hundreds of millions of claims 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.