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INTERNET | Internet Software & Services / Accounting & Finance
shift-technology.com

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Founded Year

2014

Stage

Series D | Alive

Total Raised

$319.72M

Valuation

$0000 

Last Raised

$220M | 5 mos ago

Mosaic Score

+70 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Shift Technology

Shift Technology delivers AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, the Shift Insurance Suite helps insurers achieve faster, more accurate claims and policy resolutions.

Shift Technology Headquarter Location

2-14 rue Gerty Archimede

Paris, 75012,

France

+33 1 86 95 22 82

Latest Shift Technology News

Economical Insurance Selects Shift Technology For Fraud Detection

Aug 30, 2021

Leading Canadian Property and Casualty Insurer to Automate Manual Process, Aiming for Improved Employee Productivity Paris and Boston, CA /PRNewswire/ - Shift Technology , a provider of AI-driven decision automation and optimization solutions for the global insurance industry, today announced that Economical Insurance, a leading property and casualty insurer in Canada, will deploy Shift Claims Fraud Detection , one of the solutions comprising the Shift Insurance Suite . The insurer will use Shift's technology to better spot potentially suspicious claims in its Personal and Commercial Auto and Property lines of business. Believing strongly that fraudulent claims have a negative impact on all policyholders, Economical was looking for an automated solution that could build on their existing AI tools, integrate third party data and reduce reliance on manual processes to help in their ongoing efforts to ensure legitimate claims are settled as quickly, accurately, and fairly as possible. To help achieve this goal, the insurer turned to Shift. "The process of identifying, reviewing, and investigating suspicious claims was simply taking too long," explained Hans Reidl, senior vice president, Claims. "With Shift Claims Fraud Detection, we have an automated solution we can trust to help us more quickly uncover and triage questionable claims all while moving legitimate claims more rapidly through the system." In addition to increasing the speed and efficiency with which an insurer can uncover and review suspicious claims, Shift Claims Fraud Detection provides several valuable capabilities previously unavailable. The ability to automatically ingest third-party data, including publicly available social media and other web content, advanced document and photo analysis, and the inclusion of medical provider data for claims involving bodily injury, are all viewed as critical to modernizing insurers' approaches to fraud detection and mitigation. Advanced fraud detection capabilities are also seen as an important foundation to insurers' claims automation strategies. "Effective, efficient fraud detection is critically important to so many aspects of an insurer's business. When you have greater assurance that a claim is legitimate, it opens the door to so many other opportunities," stated Dan Donovan , head of customer success, Shift Technology. "Economical is able to retire a highly manual process, which we believe should enable quicker determination of the nature of its claims and settling them with confidence, all leading to a more exceptional customer experience for policyholders." About Shift Technology Shift Technology delivers the only AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, the Shift Insurance Suite helps insurers achieve faster, more accurate claims and policy resolutions. Shift has analyzed billions of insurance transactions to date and was presented Frost & Sullivan's 2020 Global Claims Solutions for Insurance Market Leadership Award. For more information, please visit www.shift-technology.com . Source: Shift Technology

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Research containing Shift Technology

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Shift Technology in 2 CB Insights research briefs, most recently on Jul 29, 2021.

Expert Collections containing Shift Technology

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Shift Technology is included in 6 Expert Collections, including P+C Insurance Tech.

P

P+C Insurance Tech

188 items

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

U

Unicorns- Billion Dollar Startups

863 items

A

AI in Fintech

155 items

A

AI 100 2018

99 items

E

Europe InsurTech Startups

307 items

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