Équité Association Partners with Shift Technology

Équité Association partnering with Shift Technology to build a national fraud detection system using artificial intelligence (AI), a first for Property & Casualty (P&C) insurers and the Canadians who rely upon them.

Canada’s insurance fraud is a serious problem that has grown more widespread and empowered by technology. It is estimated to cost Canada between $2-3 billion annually. Équité strives to detect and prevent insurance crime in support of all insurers in Canada, using advanced analytics, intelligence best practices, and coordinated investigations. The partnership between Équité and Shift will build the first P&C, national, Canadian and consortium-based approach using AI to detect and prevent insurance fraud, addressing a landscape where technology and fraud are evolving faster than ever.

“Effective partnerships and innovative approaches are integral to the fight against fraud, to create further value for our members and support our mission of protecting Canadians,” says Terri O’Brien, President and CEO of Équité Association. “Collaboration is at the heart of all we do. We chose the right technology for the right purpose, building on Shift’s consortium expertise in 10 countries globally, and they have a proven record in scaling across a large and diverse geography.”

Building on Shift’s previous successes modeled with national insurance consortia to detect and prevent insurance crime, Équité will enable real-time capture of suspicious activity to support its own highly regarded investigations team, as well as insurers and partners across the country.

“The power of shared data at the centre opens the door to faster, better identification of criminals and criminal activity,” continued Ms. O’Brien. “We can protect honest, hardworking Canadians and our members using AI to evolve with changing fraud trends.”

Jeremy Jawish is the CEO of Shift Technology welcomed the Équité partnership: “The old adage ‘there is strength in numbers could not be truer and directly applies to the Équité mission. Insurers and customers across Canada can benefit from the mitigation of insurance fraud at a national level. We are proud to be supporting this mission.”

Shift Technology provides AI-powered fraud detection solutions and claims automation solutions for insurers all over the world. They have a track record of supporting industry-scale counterfraud initiatives and more than 100 insurance companies worldwide, including the U.S., France and Hong Kong.

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