(Image source: ISG homepage.)
Insight Service Group (ISG; Danvers, Mass.), a national provider of claim investigation and litigation support to the insurance community, and Shift Technology (Paris/Boston), a provider of AI-driven decision automation and optimization solutions for the global insurance industry, have announced that the two organizations have entered into a partnership. The aim of the alliance is to help insurance carriers, third party administrators and self-insured organizations in the workers’ compensation, and property/casualty markets better detect, quickly intervene, and mitigate suspicious claim activity through the strategic use of integrated technology and investigation services, according to a Shift statement.
Shift Claims Fraud Detection uses artificial intelligence (AI) and machine learning to identify suspicious claims more effectively and accurately assess the associated risk of fraud, according to the vendor. Through the partnership, the Shift solution will be integrated with ISG’s investigation capabilities, which includes the industry’s largest field investigation footprint and a powerful social intelligence platform, according to the Shift statement. The firms say the partnership will provide claims organizations a seamless approach to early intervention and timely field investigations to mitigate fraud and expedite claim outcomes.
“We are pleased to partner with a company that shares our mission of helping clients achieve optimal claims outcomes,” comments Robert Reardon, CEO, ISG. “Through our integrated solution, we will be able to deliver an even higher level of fraud mitigation services to our customers and produce timely and meaningful results. This collaborative approach to mitigating fraud pairs the expertise of two companies and creates a single point of integration for our customers.”
Shift’s announcement characterizes partnership as bringing together two widely recognized leaders in the field of insurance fraud detection and investigation. Working in concert, Shift Claims Fraud Detection delivers actionable alerts, including comprehensive rationale for suspicion, directly to ISG’s experienced investigators, the vendor says. Shift says the joint offering provides the foundation for highly configurable and scalable fraud mitigation programs that align with insurers’ staffing requirements and other strategic considerations.
Efficiency & Accuracy
“The efficiency and accuracy technology brings to the fight against fraud is fundamentally changing the way the insurance industry thinks about fraud detection and investigation,” says Jérémy Jawish, CEO and co-founder, Shift Technology. “Partnering with ISG will create new opportunities for more participants in the insurance industry to take advantage of not only advanced technology but also the experience of dedicated professionals committed to stopping insurance fraud.”