Shift Technology Uses Legentic Data to Support Insurers

Shift Technology, an AI-driven solution provider for global insurance industry optimization solutions and decision automation, has been established. Legentic, the companies announced a partnership in technology. Through seamless integration between the two companies’ solutions insurers who are using Shift Claims Fraud Detection to mitigate the risk of fraud will have access to specialized data from Mohawk to fuel their models.

Artificial intelligence (AI), which is used to detect potential fraud in claims processing, is efficient and fast. It also gives claims professionals fewer false positives. AI can be most effective when it is able to tap into large quantities of high-quality data. Legentic’s partnership with Shift addresses this issue by providing a source of third-party information that can be used to develop advanced fraud detection algorithms.

“The power of AI to not only see what’s hidden in the data but also help make sense of it is incredibly compelling,” said Philip Van Waning, partner and channel manager, Legentic. “By providing the data available in our Mohawk solution to Shift’s fraud detection technology we are giving claims professionals and investigators a powerful way to spot more potential fraud, with incredible accuracy, to the benefit of both insurers and policyholders.”

Mohawk’s data gives Shift users access to no longer publicly accessible data by turning historical unstructured data from multiple sources into actionable insights. Mohawk helps reduce claim processing times by limiting false negatives. Shift Claims Fraud Detection is a best-in-class, AI fraud-fighting solution which can detect possible claims fraud in real-time or in scheduled workflows and typically delivers 3X the detection hit rate compared to manual or rules-based implementations. It also provides transparent results to users, with detailed explanations for each of its conclusions. This allows investigators make faster, more accurate and more confident fraud decisions. Having Legentic’s Mohawk data for use in Shift’s models provides another compelling way to determine if a claim is suspicious and why.

“In the realm of AI, data is king. Having access to the best mix of data means you can trust the results and be confident that you are making the best decision about what to do with a suspicious claim,” Detailed explanation Drew WhitmoreShift Technology’s Global Head of Partnerships “What Legentic is doing with data, especially in the area of social media selling, offers an exciting new way to help determine if a claim is suspicious or legitimate.”

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