Shift
Each day, insurers make millions of decisions that impact their customers. Shift enables insurers to automate and optimize decision making with solutions that combine artificial intelligence with deep insurance expertise to deliver better outcomes for all.
Decisions Made Better Each day, insurers make millions of decisions that impact their customers. Shift enables insurers to automate and optimize decision making with solutions that combine artificial intelligence with deep insurance expertise to deliver better outcomes for all. Start a conversation Intelligent decisioning across key insurance functions Fraud Detection SHIFT UNDERWRITING RISK DETECTION Detect potentially fraudulent entities and applications prior to account opening. SHIFT CLAIMS FRAUD DETECTION Identify potential claims fraud with extreme accuracy and detailed contextual guidance to empower investigators. SHIFT IMPROPER PAYMENT DETECTION Go beyond fraud, waste, and abuse detection to identify issues at the patient, provider, and network levels. Claims SHIFT CLAIMS DOCUMENT DECISIONS Extract, analyze, and verify structured and unstructured claims data to increase speed to settlement and drive efficiency. SHIFT CLAIMS INTAKE DECISIONS Deliver a seamlessly integrated claims experience across multiple channels with AI decision support. SHIFT SUBROGATION DECISIONS Analyze structured and unstructured claims data in real time to efficiently identify and investigate subrogation opportunities. Compliance SHIFT FINANCIAL CRIME DETECTION Examine entities and transactions across the customer lifecycle to inform AML/KYC efforts and ensure compliance. Why trust Shift to transform insurance decision making? Extreme accuracy EXTREME ACCURACY Shift's insurance decision solutions deliver greater-than-human accuracy. 100% explainability 100% EXPLAINABILITY Our solutions don't simply deliver an answer. They explain the why behind every decision. Easy integration & adoption EASY INTEGRATION & ADOPTION Rapid deployment uses historical data in any format. Deep data science expertise DEEP DATA SCIENCE EXPERTISE Shift maintains the largest data science team in the world focused solely on insurance decisions. Reliability & security RELIABILITY & SECURITY We meet or exceed the security and data privacy standards of the world's leading insurers. Wherever leading insurers make decisions, Shift is there 6/10 6 of the top 10 US P&C insurers 4/10 4 of the top 10 global P&C insurers 6 6 of the largest EU health insurers Delivering better decisions and results for insurers and their customers $5B+ Over $5 billion in claims fraud identified in 2021 alone 60M+ Health payors covering more than 60 million lives rely on Shift AI analysis 10K+ Tens of thousands of fraud networks identified globally With the scale and expertise to automate and optimize insurance decisions globally 200+ More than 200 insurance-focused Data Scientists 110+ 110+ customers representing leading insurance carriers and associations 25 Customers in 25 countries, giving us an unmatched view of insurance data & trends We help insurers be there for their customers in more ways than ever before For Chief Medical Officers PRIORITIES Optimize outcomes by identifying improper payments and addressing anomalous behaviors that could be impacting patient care. 'Fraudsters are taking increasingly sophisticated steps to avoid detection. This technology will give insurers the edge they need to identify patterns and connect the dots across a huge pool of claims data over time, leading to more investigations and prosecutions.' —Stephen Frank, President and CEO of Canadian Life and Health Insurance Association (CLHIA) Explore Healthcare For P&C Business Leaders PRIORITIES Reduce claims costs, find & investigate fraud in underwriting and claims more effectively, and support AML/KYC activities to ensure regulatory compliance. 'By delivering deep insight into the claims we're processing and making the connections that may not otherwise be made, Shift is changing how potential fraud is identified and investigated.' —Rob Thomas, Senior Vice President of Claim Analytics, Finance & Operations, Worldwide P&C Claim, CNA Explore P&C Every day, Shift solutions get smarter 2,666,283,544 TRANSACTIONS ANALYZED GLOBALLY PRODUCTS Improper Payment Detection Claims Fraud Detection Claims Intake Decisions Claims Document Decisions Underwriting Risk Detection Subrogation Decisions Financial Crime Detection Insurance Decisioning Platform SOLUTIONS Property & Casualty Healthcare Life & Disability Associations COMPANY About Careers Partners Security Contact RESOURCES News Press Perspectives Research & Reports Case Studies Videos Upcoming Events & Webinars Library Terms of Use Privacy Notice Copyright ©2023 Shift Technology MANAGE COOKIES
About Shift
Shift Technology is a leading provider of artificial intelligence (AI)-based solutions that optimize decision-making processes in the insurance industry. The company's mission is to improve insurers' daily decisions, impacting both the insurers and their customers positively. By combining AI and deep insurance expertise, Shift delivers superior outcomes for all parties involved.
Key Products and Services
Shift's portfolio encompasses several key insurance functions, providing intelligent decision-making capabilities across multiple areas.
-
Fraud Detection: Shift's Underwriting Risk Detection, Claims Fraud Detection, and Improper Payment Detection solutions utilize AI to identify potentially fraudulent entities, claims, and payments. These tools analyze structured and unstructured data to provide accurate and detailed insights for investigators, significantly reducing the risk of fraud.
-
Claims: The company's Claims Document Decisions, Claims Intake Decisions, and Subrogation Decisions tools enhance the claims process's efficiency. By analyzing claims data and providing AI decision support, these solutions increase the speed of settlements and identify potential subrogation opportunities.
-
Compliance: Shift's Financial Crime Detection tool examines entities and transactions throughout the customer lifecycle. This facilitates AML/KYC efforts and ensures compliance with regulatory standards.
Product Features and Benefits
Shift's solutions offer numerous benefits, including:
-
Extreme Accuracy: The company's insurance decision solutions deliver greater accuracy than human analysts.
-
100% Explainability: Shift provides comprehensive explanations for every decision made, enhancing transparency and understanding.
-
Easy Integration & Adoption: The company's solutions can be rapidly deployed using historical data in any format, ensuring easy integration and adoption.
-
Deep Data Science Expertise: Shift maintains the world's largest data science team dedicated solely to insurance decisions.
-
Reliability & Security: The company meets or exceeds the security and data privacy standards of leading global insurers.
Target Market, Industries, and Use Cases
Shift primarily targets the insurance industry, serving property and casualty (P&C), healthcare, life and disability insurers, and insurance associations. Their solutions are trusted by six of the top 10 US P&C insurers, four of the top 10 global P&C insurers, and six of the largest EU health insurers.
The use cases for Shift's solutions span from fraud detection to claim management and compliance, aiding roles like Chief Medical Officers and P&C Business Leaders.
Company Background
Shift Technology, a global player in the insurtech space, has distinguished itself by automating and optimizing insurance decision-making processes. With more than 200 insurance-focused data scientists and a customer base of 110+ leading insurance carriers and associations in 25 countries, Shift offers an unmatched view of insurance data and trends.
In 2021, Shift identified over $5 billion in claims fraud, and its AI analysis is relied upon by health payors covering more than 60 million lives. Additionally, the company has identified tens of thousands of fraud networks globally.
Shift's impact extends to enhancing patient care by identifying improper payments and anomalous behaviors and reducing claims costs, detecting underwriting and claims fraud, and supporting AML/KYC activities for regulatory compliance. As per their clientele's testimonials, Shift's technology provides the necessary edge in identifying patterns across massive pools of claims data, leading to more investigations and prosecutions.
In conclusion, Shift Technology's AI-driven solutions provide insurers with the tools they need to make better, more informed decisions, ultimately delivering enhanced outcomes for their customers. As the insurance industry continues to evolve, Shift is well-positioned to lead the way in intelligent decision-making and fraud detection.
Details
Category
Where AI Leaders Stay Informed
The latest AI intelligence, case studies, and research — delivered to your inbox every week.
Free to read. Unsubscribe anytime.