Insurtech company Shift Technology has gone live with the Insurance Data Network (IDN), a collaborative platform enabling insurers to share claims data to improve fraud detection and risk prevention.
The network covers US auto and property claims across all 50 states, with participation from “four of the top five” US property and casualty (P&C) insurers.
It offers comprehensive claims data and “related intelligence in real-time”, aiming to improve the performance of Shift products that customers are already using.
It also allows policyholders with a history of “suspicious behaviour” or “proven fraud” across various carriers to be identified.
Through the network, insurers can gain insights into a claimant’s interactions with insurers, helping to fast-track investigations.
IDN also aids in the detection of fraud and risk throughout the claims process by leveraging data-driven insights.
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