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First Central Insurance and Technology Group, a Haywards Heath, U.K.-based motor insurer and provider of insurance services, has gone live on Shift Technology’s (Paris) Shift Claims Fraud Detection, one of the solutions comprising the recently introduced Shift Insurance Suite. Shift reports that First Central is now using the technology to better detect hidden fraud in its claims process. First Central also announced it will soon be live on Shift products which more effectively identify potential fraud at the time of application.
First Central says that its adoption of Shift’s technology to reduce the impact of fraud, both at the application and claims stages, is part of an overall strategy to deliver exceptional customer experiences to its policyholders.
“Fraud can’t simply be looked at as a cost of doing business, and it’s not a victimless crime,” comments Paul Priestley, Counter Fraud Director, First Central. “We know the impact that fraud has on honest policyholders and we’re putting important initiatives in place to tackle the problem at every opportunity, such as this investment in Shift’s innovative technology.”
Through its use of the Shift fraud detection solutions, First Central anticipates being able to identify a greater proportion of suspicious claims as well as potentially problematic policies during the application stage. In addition, the insurer believes it can reduce the time from first notice of loss (FNOL) to settlement through accurately identifying those claims which may be fraudulent and fast tracking those that are legitimate.
“We are incredibly proud to be an integral part of First Central’s fraud fighting strategy and to be supporting those efforts in both the claims and application processes,” says Jérémy Jawish, CEO and co‑founder, Shift Technology. “A strong plan to combat insurance fraud, across the policy lifecycle, offers tremendous benefits to insurer and customer alike.”