Shelter Insurance adopts Shift Technology's fraud detection solution

Following this announcement, the aim of the initiative is set on improving the identification and investigation of fraudulent claims. The Shift Claims Fraud Detection tool was developed to apply AI in order to detect concealed fraudulent activities throughout the claims process, enabling insurers to make determinations about which claims to investigate further. 

In addition, the product will also provide investors with the contextual information and documentation needed to expedite the investigative process. This approach aims to optimise operational efficiency and the overall effectiveness of fraud mitigation efforts. 

More information on the Shelter Insurance x Shift Technology initiative

According to the officials of the company, Shelter Insurance will be enabled to identify an optimised number of suspicious claims through its Shift Technology collaboration, as well as separate the fraudulent activities from legitimate claims, investigate, and conclude them in a quicker and more efficient manner. The insurer will also offer property, casualty, reinsurance, and life insurance products in 20 US states. 

As auto insurance fraud becomes more sophisticated, insurers are expected to look for solutions that give them advantages over bad actors. With this in mind, Shelter Insurance will leverage the tools provided by Shift Technology in order to optimise its fraud-fighting initiatives and keep customers and their data protected. At the same time, both companies will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.