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Shift Technology And Direct Insurance Have Merged Working For Better Claims And Approach

Things To Know Shift Technology

Shift Technology is a partnership type firm founded in 2013 and headquartered in Paris. The IT services and IT consultancy industry holds specialty in sectors like mathematics, computer science, big data, machine learning, artificial intelligence, insurance. The company works on the motive of believing that the future of insurance starts with decision made better and enable it’s policyholders to claim data and insurance claims as per their convenience with proper planning.

Things To Know About Direct Insurance

The insurance based industry founded in 1991 is headquartered in Nashville and holds specialty in auto insurance, home insurance, term life insurance and motorcycle insurance. It has a foundation mission to provide everyone the right shield of coverage they need. It is a subsidiary of AXA Group, and is known as the French leader in direct car insurance and also offers motorcycle, home and health insurance products to insurers.

As per the analysis of Shift Technology, property and casualty insurance fraud costs the European economy €14bn annually, and €2.5bn in France alone. Thus, this is creating an upmost requirement of modernization of claims in the industry. The partnership will offer better results due to adoption of an innovative approach to this issue. 

What Are The Views Of Leading Members Of The Firm On This 

Nicolas Vilhelmsen, head of claims business intelligence, Direct Assurance, said, “In order to identify suspicious claims, we chose to combine artificial intelligence with the know-how of our experts. The enormous amount of information to be processed makes verification and comparison operations extremely difficult. That’s why we used Shift. Since 2018, this collaboration has allowed us to gain ground on fraudsters in a considerable way. We are very excited to apply this solution to our home claims, which are an increasingly important part of our business.”

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