What’s Driving Innovation and Transformation in Insurance?

by Rob Morton

According to Gartner analyst Kimberly Harris-Ferrante, in the report Innovation Insight for Artificial Intelligence in Life and P&C Insurance*, “Adoption and maturity of AI are increasing among insurance early adopters as they test new use cases and technologies. Insurance CIOs can benefit from greater awareness of AI fundamental use cases and the impact of AI to help guide innovation.” At Shift, we couldn’t agree more.

Our products, Force & Luke – designed to give insurers innovative tools to fight fraud and smartly introduce greater automation into the claims process – have AI at their core. We made the determination early on that the best way to empower claims professionals to do their jobs more efficiently and more accurately was to deliver solutions that mirrored the way they already thought about the insurance claims process, but did it at scale. Simple business rules alone could never accomplish that. And, especially in the realm of fraud detection, might even make their jobs harder by introducing more false positives into the mix.

In our opinion, the report specifically calls out the decision support capabilities AI can bring to forward-thinking carriers. And to that point, we definitely think Force is exceptional at what Gartner describes as “real-time decisioning,” with the analyst firm citing fraud detection as a core example. We believe also that the report highlights “Decision automation,” identified as exception processing or no-touch claims handling, as out as a solid use case for where AI can benefit today’s insurers – which is exactly what we provide with Luke. And finally, we strongly feel that Force & Luke are exceptional at “big data analysis using structured and unstructured data for complex analysis.” 

*Gartner Innovation Insight for Artificial Intelligence in Life and P&C Insurance, 7 February 2019, Kimberly Harris-Ferrante

Shift Perspectives

The New Shift Technology Insurance Perspectives is Here

by Rob Morton

April 8, 2021

Read more

Empowering Employees to “Be There” for Policyholders

by Jeremy Jawish

March 24, 2021

Read more

A Day in the Life: Shift Product Management

by Marcel Gordon

March 5, 2021

Read more

Panel Discussion – Fraud Insights: Uncovering the Trends Shaping Healthcare Fraud, Waste, and Abuse

March 4, 2021

Read more

Learn how Shift can help you transform insurance decision making

Subscribe to news and updates from Shift Technology.

  • This field is for validation purposes and should be left unchanged.
twitter linkedin instagram arrow-down arrow-left arrow-right close-icon search-icon checkmark-icon