Fraud is a very serious issue for insurers, affecting an estimated 10% of all claims and resulting in global losses of several hundred billion dollars per year across Health and Property & Casualty (P&C) insurance. However, only about 15% of fraudulent claims are detected today: current detection methods are either not automated or expensive and yield very limited results.
Shift Technology has developed a cost-effective decision support platform to automate the individual and network fraud detection process. Shift Technology launched its SaaS platform in 2014 and is headquartered in Paris. The company has processed more than 50M claims to date for P&C insurers across Europe, Asia and the Americas.