Customer story: Underwriting risk detection

The head of innovation at one of Shift’s European P&C clients recently began a review across their business to identify applications for Shift’s AI decisioning capabilities. Having seen the impact of Shift Claims Fraud Detection, the insurer’s head of policy service asked about the potential to address two key challenges for their underwriting team:

1. Missed premium risk.
2. Inefficient manual investigation.

The policy services executive needed a solution that could scale the insurer’s underwriting practices in order to better identify fraudulent or misrepresented policies in their portfolio. At the same time, they still needed to accelerate the insurer’s underwriting process to maintain customer satisfaction.

This case study sheds light on how implementing Shift’s underwriting risk detection solution enabled the insurer to achieve the below outcomes:

1. £850K in annual projected underwriting risk mitigation.
2. 3x more risky policies investigated.
3. 100+ Shift identified risky policies missed in prior investigation.