Shift Technology, an AI solutions provider for the global insurance industry, in a recent statement on Tuesday, Jan. 15th 2019, announced entering into a long-term agreement with P&V Group, a cooperative insurance group in Belgium. The group will leverage Shift’s FORCE™ fraud detection solution to automate its fraud detection capabilities.
The group did an extensive evaluation of available fraud detection solutions, and chose the FORCE, for its automated fraud detection initiatives. According to Pierre Creuven, Claims Director, P&V Group, the FORCE solution was chosen because it features a variety of important criteria for fraud detection. The group was out looking for an AI-driven solution, which is backed by extensive data science and insurance industry expertise, and at the same time, needed a partner with whom they can truly relate and collaborate on implementing the best fraud detection models, out there in the market, and Shift was a natural choice.
According to Jeremy Jawish, CEO and co-founder, Shift Technology, both companies share the same philosophy of collaboration and innovation, and it’s really great to be working with the P&V Group, as they not only see the value of AI-native solutions when it comes to claims fraud detection, they also see the potential use-cases it has within other areas as well. The company looks forward to working together with P&V Group to redefine AI’s role in the insurance industry.