Tawinder Singh is Shift’s Global Head of Data Partnerships. He plays a key role in developing the strategic partnerships with third-party data providers which strengthen the accuracy of our solutions. We sat down with Tawinder to hear what brought him to Shift and to get his take on the importance of external data as it relates to insurance decisioning.
Shift: Tell us a bit about your background and what brought you to Shift?
Tawinder Singh: Early in my career, I worked within security and internal investigations. It was during this period I had my first exposure to insurance fraud and understanding the extent of the problem.
Following this period I moved across into the insurance sector and worked my way through the customer journey in various insurance departments (new business, underwriting, renewals, claims etc), along with developing myself in different sectors like motor, home, pet, commercial and reinsurance.
Eventually, I ventured into the world of data and understood how crucial data is in optimising the customer journey and facilitating informed decision-making.
In respect to what brought me to Shift, Shift is the next generation of insurance decisioning that leverages AI to revolutionise decision-making in insurance and combining Shift with my passion for insurance and data, gave me the right pedigree in becoming Shift’s data guru.
Shift: Why is external data important to the insurance industry?
Tawinder Singh: External data has evolved into a fundamental component of the insurance cycle. In today’s world, unlocking new insights and making informed decisions requires harnessing the power of data. Whether it’s pricing risks accurately, understanding fraud patterns, or making better decisions, data is the backbone. By cross-referencing internal and external data, we often uncover discrepancies in insurance claims, prompting a deeper investigation.
In the ever-evolving landscape of fraud, staying ahead of fraudsters is crucial. While masking one vulnerability, it’s essential to anticipate the next move and introduce capabilities that deter fraudulent activities. Data remains vital in the ongoing fight against evolving fraud schemes, opportunistic fraud and the strategies insurers undertake to mitigate them.
Shift: How does Shift bring external data to life, and how have you seen it evolve while working at Shift?
Tawinder Singh: External data goes through a thorough process in order to integrate into our Shift decisioning engine. We work with our customer partners to ensure the data is delivering true value and enhancing our ability to detect anomalies and patterns.
This process is elevated against our networking detection capabilities in order to not only trigger alerts but also uncover organised crime networks.
We create a combination of various data points and deliver a comprehensive view, unlocking new insights and empowering customers with a deeper understanding of what’s happening during the policy and claims lifecycles.
We can leverage external data to deliver an uplift in alerts, effectively identifying potential fraudulent activities that may have slipped through other points of friction in the journey.
Shift: What does ‘Decisions Made Better’ mean to you, and why is it important?
Tawinder Singh: For me, ‘Decisions Made Better’ is synonymous with clarity. Clarity, in turn, is the cornerstone of informed decision-making. At Shift, we are committed to providing our clients with a clear view of risks and potential fraud. The more clarity we offer, the better-informed decisions they can make.
Empowering our clients with this clarity enables them to navigate the insurance landscape with confidence and precision. More information translates to better decisions whether it’s about identifying fraud or conducting comprehensive risk assessments. Clarity is fundamental to effective decision-making.