Strong ROI from Shift Underwriting Risk Detection and Shift Claims Fraud Detection Drives Decision to Deploy Shift Subrogation Detection. BOSTON and PARIS, Nov. 13, 2024 /PRNewswire/ -- Shift Technology, a provider of AI-powered decision optimization solutions for the global insurance industry, today announced that Elephant Insurance, a wholly owned US subsidiary of the Admiral Group, plc, a FTSE 100 company and one of the U.K.'s leading insurers has expanded its relationship with the company. As a result, the insurer will deploy Shift Subrogation Detection to more efficiently uncover subrogation and recovery opportunities in the claims process. A Shift Claims Fraud Detection customer since 2020, Elephant adopted Shift Underwriting Risk Detection in 2021. To date in 2024, Shift solutions in use by Elephant have generated solid ROI for underwriting and claims fraud detection

Shift Technology (Paris/Boston), a provider of AI-powered decision optimization solutions for the global insurance industry, has announced the availability of Shift Subrogation Detection, Shift Underwriting Risk Detection and Shift Improper Payment Detection in the Microsoft Azure Marketplace.

Customers Achieve 95% Document Analysis Accuracy and Greater than 90% in Subrogation Liability Assessment From Shift SolutionsBOSTON and PARIS, June 26, 2024 /PRNewswire/ -- Shift Technology , a provider of AI-powered decision optimization solutions for the global insurance industry, today reported that customers using the company's generative artificial intelligence (AI) solutions are achieving significant accuracy and efficiency improvements in claims processes. Shift introduced generative AI into the company's detection products in 2023, tapping its power to extract the most relevant data from a wide variety of insurance documents and convert it into intuitive, targeted and actionable insights for claims handlers.It is estimated that claims professionals spend more than 30 percent of their time daily reading documents in order to extract the information required to effectively process policyholder claims. This traditionally manual process can be significantly time consuming, often resulting in delays that degrade the policyholder experience. Relying on claims professionals to manually review large volumes of physical or digital documents can also hinder the successful implementation of straight through processing or other claims automation initiatives.Generative AI is ideally suited to removing this responsibility from a claims handler's daily "to do" list. Real-world implementations of Shift's solutions demonstrate that insurers can achieve over 95 percent accuracy in extraction of key information from documents, providing the knowledge required to progress a claim through the system quickly and efficiently. This level of accuracy also provides confidence that a claim identified for straight through processing does not require human intervention