Shift Claims Fraud Detection

What is Shift Claims Fraud Detection?

The decision-making platform provided by Shift Claims Fraud Detection is designed to augment the capacity of insurance fraud handlers in detecting a wide spectrum of fraudulent behaviors. Leveraging AI-powered technology, the SaaS-based solution effectively identifies individual and network-perpetrated claims fraud across various lines of business, achieving a 75 hit rate in flagging potentially fraudulent insurance claims. This automated solution, launched in 2014 out of Paris, has since expanded its reach, with the company raising over 12 million dollars and opening offices in Singapore and Hong Kong, as well as signing contracts with more than 25 insurers throughout Europe, Asia, and the Americas

Highlights

• AI-powered fraud detection solution that identifies individual and network-perpetrated claims fraud
• SaaS-based platform with a 75 hit rate in flagging potentially fraudulent insurance claims
• Automated decision-making platform specifically designed for insurance fraud handlers
• Ability to detect a wide spectrum of fraudulent behaviors across various lines of business
• Experienced growth, with over 12 million dollars raised and expansion to new markets since its 2014 launch in Paris