(Image source: Snapsheet homepage.)
Shift Technology (Paris/Boston), a provider of AI-powered fraud detection and claims automation solutions, and Snapsheet (Chicago), a provider of claims management technology and virtual appraisal solutions for insurance carriers, risk managers and TPAs, have announced a strategic partnership. As a result of the agreement, users of Snapsheet’s claims management platform can receive notification of suspicious claims directly from Shift’s Force fraud detection technology.
“For most insurers, the claims process is incredibly manual and complex, and without effective technology in place, everyone involved suffers,” comments Brad Weisberg, CEO and founder, Snapsheet. “We’ve developed a software platform that digitizes the claims process, making it significantly more efficient and easier to navigate. With our API-driven platform, incorporating fraud detection from Shift is only a click away, and is another key way in which we can give claims professionals the tools needed to do their job as effectively as possible.”
Shift describes its Force fraud detection solution as applying a unique approach to the problem of spotting suspicious claims that combines sophisticated artificial intelligence (AI) and data science expertise to replicate the deductive reasoning of an insurer’s best investigators and fraud handlers. The vendor asserts that accuracy and efficiency are improved when AI solutions have access to significant amounts of varied types of data. With such access, Force is able to analyze a range of structured and unstructured data—including scanned documents, images, and videos—along with external data sources, such as location and weather information, to uncover fraudulent activities that would otherwise go undetected, according to the vendor.
New Power, Familiar Platform
“One of the most challenging aspects of the claims process is spotting which claims may be suspicious and why and then deciding what to do about it,” comments Jeremy Jawish, CEO and co‑founder, Shift Technology. “Through our partnership with Snapsheet, we’re giving our joint customers the power to uncover anomalies and identify potentially fraudulent claims within the claims management platform they’re already familiar with, speeding up the overall process.”