Admiral Seguros Banks on Shift Technology’s AI for Fraud Detection and Prevention

The Insurer has deployed Shift Claims Fraud Detection to Support Claims Professionals’ Efforts in Detecting Suspected Fraudulent Claims

Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry announced that Admiral Seguros has adopted the company’s Shift Claims Fraud Detection. The insurer recognized Shift a leader in the application of Artificial Intelligence to claim analysis in order to prevent and combat fraud and deployed the technology as part of its wider process automation and digital transformation strategy.

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With a presence in more than 25 countries, Shift has analyzed billions of claims using advanced data science and artificial intelligence. The company’s automated, highly accurate SaaS solution functions as a complex alarm system that warns insurers of potential fraud and allows claims handlers and investigators to better understand the nature of suspicious claims. Shift Claims Fraud Detection presents information via an intuitive, user-friendly interface that provides all relevant claims information. This allows claims professionals to evaluate the potential for fraud more efficiently and effectively during the claims process.

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According to Pedro García, Head of Antifraud at Admiral Seguros, “The launch of Shift Claims Fraud Detection at Admiral Seguros constitutes a step forward, bringing us closer to the future and reinforcing an area of vital importance and impact to our business. And because this technology makes Artificial Intelligence an integral part of the automation of processing and decision-making in claims, we can streamline our procedures, allowing us to make fraud prevention part of an improved experience for our customers.”

“Innovative insurers are actively exploring ways of applying new technology to age-old challenges,” explained Jeremy Jawish, CEO and co-founder of Shift Technology. “It is common knowledge that claims fraud takes place, that it can be incredibly difficult to detect and that it has a negative impact on both insurers and the insured. With our technology, we are helping companies like Admiral Seguros to fight fraud more efficiently to the benefit of everyone involved in the process.”

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