(Image source: Buckle homepage.)
Buckle, a Jersey City, N.J.-based tech-enabled financial services company, will deploy Shift (Paris/Boston) Claims Fraud Detection, one of the solutions within the recently introduced Shift Insurance Suite. Buckle, a provider of insurance services designed to meet the needs of rideshare drivers, will use the technology to better spot potentially suspicious claims, according to a Shift statement.
Buckle describes itself as founded on the premise that traditional insurance products and services are not ideally suited to the unique needs of rideshare drivers. The company says it believes strongly that principles such as honesty, integrity, and innovation are the foundation for successful relationships between insurers and their policyholders. Given that view, Buckle says it is investing in initiatives to help the company settle claims quickly, accurately, and fairly, all while delivering exceptional customer experiences. The company believes that successful fraud detection capabilities that help eliminate friction in the claims process are key to the insurer’s strategy.
“Buckle has done things differently since day one, including not factoring in a driver’s credit score when determining rates,” comments George Rosen, VP, Buckle TPA. “We apply some of this same thinking to fraud detection. Since most of our members are not committing fraud, we need a solution that is smart enough to know that and not alert on false positives. Shift Claims Fraud Detection fits our needs perfectly.”
In addition to providing fraud detection capabilities, Shift Claims Fraud Detection also supports Buckle’s overall efforts to achieve operational excellence in support of future growth, the vendor statement says. For example, the data mapping and denoising process that initiates an engagement with Shift will help ensure that the insurer’s claims data is clean, and remains clean, as the business expands, the vendor explains. Shift’s statement further notes that the ability to self-configure the solution supports Buckle’s hands-on approach to implementing new initiatives.
“Buckle is transforming the way rideshare drivers purchase and use insurance by tailoring insurance products and services to meet the specific requirements of these on demand economy participants,” comments Dan Donovan, head of customer success, Shift Technology. “We are proud to provide powerful tools to help Buckle know which claims may be fraudulent and which are legitimate, helping to settle claims, and get drivers back on the road more quickly.”