PARIS and BOSTON and CHICAGO, Could 11, 2020 /PRNewswire/ — Shift Technology, a supplier of AI-native fraud detection and claims automation options, and Snapsheet, a number one supplier of claims administration know-how and digital appraisal options for insurance coverage carriers, threat managers and TPAs, at this time introduced a strategic partnership between the 2 firms. Because of the settlement, customers of Snapsheet’s claims management platform can obtain notification of suspicious claims immediately from Shift’s Force fraud detection know-how.
The purpose of each insurer is to settle policyholder claims as shortly, pretty and precisely as potential. The flexibility to take action advantages not solely the insurer, but additionally its prospects. Having an efficient claims administration technique in place, supported by the correct mixture of know-how, is vital to creating certain each the enterprise’ and the policyholders’ expectations are met. Snapsheet addresses these necessities by delivering Snapsheet Claims, a digital-first, cloud-native claims administration resolution designed to offer sooner, higher experiences for all events concerned within the claims course of.
“For many insurers, the claims course of is extremely guide and sophisticated, and with out efficient know-how in place, everybody concerned suffers,” defined Brad Weisberg, CEO and founder, Snapsheet. “We have developed a software program platform that digitizes the claims course of, making it considerably extra environment friendly and simpler to navigate. With our API-driven platform, incorporating fraud detection from Shift is barely a click on away, and is one other key manner during which we can provide claims professionals the instruments wanted to do their job as successfully as potential.”
Shift’s Drive fraud detection resolution applies a singular strategy to the issue of recognizing suspicious claims that mixes subtle synthetic intelligence (AI) and information science experience to copy the deductive reasoning of an insurer’s greatest investigators and fraud handlers. Accuracy and effectivity are improved when AI options have entry to important quantities of various kinds of information. As such, Drive is ready to analyze a spread of structured and unstructured information — together with scanned paperwork, photos, and movies — together with exterior information sources, reminiscent of location and climate info, to uncover fraudulent actions that might in any other case go undetected.
“One of the vital difficult points of the claims course of is recognizing which claims could also be suspicious and why after which deciding what to do about it,” said Jeremy Jawish, CEO and co‑founder, Shift Expertise. “Via our partnership with Snapsheet, we’re giving our joint prospects the ability to uncover anomalies and determine doubtlessly fraudulent claims throughout the claims administration platform they’re already conversant in, rushing up the general course of.”
About Shift Expertise
Shift Expertise delivers the one AI-native fraud detection and claims automation options constructed particularly for the worldwide insurance coverage business. Our SaaS options determine particular person and community fraud with double the accuracy of competing choices, and supply contextual steerage to assist insurers obtain sooner, extra correct declare resolutions. Shift has analyzed lots of of tens of millions of claims so far and was introduced Frost & Sullivan’s 2020 World Claims Options for Insurance coverage Market Management Award. For extra info please go to www.shift-technology.com.
Snapsheet is the pioneering chief of digital claims administration processing know-how, enabling probably the most progressive claims organizations to ship one of the best experiences for purchasers. With a deal with digitization and clever automation, Snapsheet gives unmatched know-how and processes that enhance buyer engagement, present organizational agility and ship transformational advantages by means of a spread of cloud-native options in claims administration, digital value determinations, digital funds, and rental and fleet administration. As a trusted innovation associate, Snapsheet has processed tens of millions of claims and accomplished practically $6 billion in value determinations for practically 100 shoppers, together with most of the largest insurance coverage carriers in North America, third-party directors and insurance coverage and sharing economic system disruptors. For extra info go to www.snapsheetclaims.com.
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SOURCE Shift Expertise
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