Shift Technology, a fraud-preventive solution provider to the insurance industry, has partnered with the National Insurance Crime Bureau (NICB) in the US to fight insurance fraud.
Under the agreement, Shift’s artificial intelligence-powered fraud detection solution called FORCE will be integrated with NICB databases. The aim is to enable customers gain deeper insights into potentially fraudulent activities.
The collaboration will enable Shift customers and NICB members to access NICB data within their respective fraud detection models.
This data, which will be provided via an automated real time feed or a batch data transfer process, will facilitate an additional level of fraud detection and insights. Moreover, the service will be offered without any extra cost.
NICB president and CEO Joe Wehrle said: “We see this partnership as yet another positive step in helping our members conquer the ongoing fraud challenge.
“Armed with the additional insight available via our NICB data, mutual Shift clients gain another advantage in the early detection and prevention of fraud, along with quicker and more effective investigations.”
Shift Technology CEO and co-founder Jeremy Jawish added: “We have heard consistently from our US customers that they want access to rich and deep industry wide data insights to combine with their own internal data in their efforts to combat fraud.
“NICB is a trusted provider of highly relevant aggregated industry data related to insurance fraud. Having direct access to this data for use in their Shift fraud models is an incredibly powerful value add for our customers.”