Assurant and Shift Technology Fraud Detection Collaboration

This case study details the collaboration between Assurant and Shift Technology, which began in 2018, focusing on the implementation of AI-powered fraud detection to combat claims fraud. Assurant, a Fortune 500 company, recognized the potential of innovative technologies in the insurance sector and sought to enhance its fraud detection capabilities. After a successful trial period, Assurant selected Shift's Claims Fraud Detection due to its robust learning model and adaptability to new fraud patterns. The integration of Shift's AI has significantly optimized Assurant's fraud detection process, allowing for rapid identification of fraudulent claims and providing detailed alerts to expedite investigations. The partnership has evolved over four years, leading to improved fraud mitigation and a higher case acceptance rate. Assurant's SIU team has benefited from customized investigation software and dedicated expertise from Shift, enabling them to address complex fraud schemes effectively. This collaboration exemplifies the impact of AI in enhancing operational efficiency within the insurance industry.