Shift Technology has introduced the Insurance Data Network (IDN), a multi-carrier data exchange designed to provide insurers with actionable fraud and risk insights by sharing claims and related data across the industry.
“IDN empowers insurers to get more value out of their data by providing a safe environment in which to share it with other carriers,” says Jérémy Jawish, CEO and co-founder, Shift Technology. “The ability to get a more complete picture of the forces impacting their own business and the industry as a whole, and to do so in the fastest, most proactive and efficient way possible is an amazing value proposition.”
The platform is currently live, with four of the five largest U.S. property/casualty insurers among its contributing members. IDN aggregates a significant share of U.S. auto and property claims, enabling members to detect previously unknown fraud schemes and improve risk assessments. According to the company, members have already uncovered millions of dollars in new fraud activity since joining the network.
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