Shift Technology, a fraud detection services provider for insurance industry, has partnered with the National Insurance Crime Bureau (NICB), to give insurers an early advantage in detecting and combating insurance fraud.
Image: Shift Technology partners with NICB to control insurance fraud. Photo: Courtesy of Markus Spiske/Unsplash.
As a result, Shift customers can now access NICB data within their FORCE implementations to further combat insurance fraud.
As a trusted authority in the detection and investigation of insurance fraud, NICB maintains extensive databases on behalf of its member companies.
Under the new partnership, Shift Technology customers using the company’s artificial intelligence (AI) driven claims fraud detection solution FORCE and who are also NICB members can now use NICB’s data within their respective fraud detection models.
Delivered via an automated real time feed or a batch data transfer process, this important data enables an additional level of fraud detection capabilities and insights at no additional 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’s AI supports multiple data inputs including external third-party data sources, such as those from NICB. The ability to leverage NICB’s cross industry data ensures that Shift is taking a holistic approach to the detection of fraud at both the claim and network level for its clients.
NICB database assets available and integrated with Shift’s FORCE include: ForeWARN Alerts, Questionable Claims, MedAWARE Alerts, and additional proprietary NICB data assets.
Shift Technology CEO and co-founder Jeremy Jawish said: “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.”
Source: Company Press Release