Shift Technology
Shift Technology delivers AI decisioning solutions to benefit the global insurance industry and its customers. Our products enable insurers to automate and optimize decisions from underwriting to claims, resulting in superior customer experiences, increased operational efficiency, and reduced costs. The future of insurance starts with Decisions Made Better. Learn more at www.shift-technology.com.
All content by Shift Technology
Claims decisioning - the missing ingredient for P&C insurers
Insurers have invested millions in automation technologies, yet OCR and RPA still don’t deliver much in the way of expense reduction. This blog highlights how AI-based decisioning helps insurers’ existing technology investments process claims without calling for human assistance at the first hurdle.
Other industries are investing heavily in AI - what can insurers learn from them?
In 2022, 25% of insurers will report widespread adoption of artificial intelligence. This blog highlights what insurers can learn about AI adoption from the automotive, retail and pharmaceutical sectors.
Infographic: Any data, any form
With Shift, insurers never overlook a single piece of data, no matter what form it takes. This infographic highlights how Shift Claims Fraud Detection allows insurers to find and mitigate more fraud, accelerate the claims process for legitimate policyholders and deliver a better customer experience.
SME perspectives: How fraudsters create fake identities
Insurers work hard to make sure they don’t write policies for individuals with fake identities, but bad actors work just as hard to avoid detection. This blog highlights how fraudsters create fake identities and how insurers can build a better mousetrap to catch fake insurance identities.
SME perspectives: Navigating change management within the SIU
Introducing AI to an insurer’s SIU may seem like an easy sell – investigators need to do less work to find more fraud – but this underestimates the potential drawbacks. This blog highlights why up to 85% of AI implementations fail and why change management holds the key to a successful deployment.
SME perspectives: Why legacy claim platforms can't handle subrogation
More insurers are now aware that subrogation increases the bottom line, lowering loss ratios and increasing revenue. This blog highlights how insurers can leverage AI to solve historical data problems associated with legacy platforms and perform subrogation in an efficient, scalable manner.
Three ways that AI can help special investigation units tackle fraud
Special investigation units play a valuable role in the claims lifecycle, but can act as a roadblock for claims if they can’t act at digital speed. This blog highlights three ways that assistive technology in the form of AI can empower SIUs to work effectively in the ongoing battle against fraud.
Underwriting risk detection at critical decision points
The speed of digital insurance experience comes at a price: Almost 70% of insurers agree that increased digital activity leads to increased fraud. This blog highlights how underwriting teams can improve risk detection at point of quote, while a policy is in force and during renewals.
Fraud detection: The impact of more and different data
When it comes to detecting fraud, insurers know that better data means better fraud decisions. This blog highlights some examples of the benefits that external data sets provide for insurers and why effectively utilising external data makes the difference when stopping more fraud.
Underwriters need AI to get out from between a rock and a hard place
Underwriters can often be stuck between a rock and a hard place – the need for speed on one side, and the limits to review accurately on the other. This blog highlights how AI gives underwriters the opportunity to square the need for speedy service with the need for accurate decision making.