Shift Technology Solutions

Shift Technology offers a suite of AI-driven solutions tailored for the insurance industry, enhancing decision-making processes across various functions. The primary products include:

1. Claims Fraud Detection: This platform focuses on identifying fraudulent claims effectively, significantly reducing investigation cycles. It integrates external data sources to improve decision-making and has been adopted by leading P&C insurers. In 2021, over $5 billion in claims fraud was identified using this system.

2. Improper Payment Detection: Targeting healthcare fraud, waste, and abuse, this solution improves detection accuracy and efficiency. With a 200% boost in investigative efficiency and a threefold increase in detection accuracy, it enables investigators to access relevant data swiftly, uncovering valuable fraud cases more effectively.

3. Claims Document Decisions: This AI solution automates the analysis of claims documents, enhancing processing accuracy and allowing claims handlers to concentrate on more valuable tasks. It achieves document processing accuracy comparable to that of experienced human adjusters, thereby expediting claims settlements.

4. Underwriting Risk Detection: Designed to identify hidden risks in policy applications, this platform aids insurers in making informed underwriting decisions. It leverages AI for real-time alerts about potential risks, including premium leakage and policy hijacking, while maintaining a high level of explainability in its findings.

Overall, Shift Technology aims to streamline the operations of insurers by automating key processes, thus improving accuracy and efficiency in critical decision-making.