Admiral Seguros Banks on Shift Technology's AI for Fraud Detection and Prevention

PARIS and BOSTON, Dec. 3, 2020 /PRNewswire/ -- Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry today announced that Admiral Seguros has adopted the company's Shift Claims Fraud Detection. The insurer recognized Shift a leader in the application of Artificial Intelligence to claim analysis in order to prevent and combat fraud and deployed the technology as part of its wider process automation and digital transformation strategy.

With a presence in more than 25 countries, Shift has analyzed billions of claims using advanced data science and artificial intelligence. The company's automated, highly accurate SaaS solution functions as a complex alarm system that warns insurers of potential fraud and allows claims handlers and investigators to better understand the nature of suspicious claims. Shift Claims Fraud Detection presents information via an intuitive, user-friendly interface that provides all relevant claims information. This allows claims professionals to evaluate the potential for fraud more efficiently and effectively during the claims process.

According to Pedro García, Head of Antifraud at Admiral Seguros, "The launch of Shift Claims Fraud Detection at Admiral Seguros constitutes a step forward, bringing us closer to the future and reinforcing an area of vital importance and impact to our business. And because this technology makes Artificial Intelligence an integral part of the automation of processing and decision-making in claims, we can streamline our procedures, allowing us to make fraud prevention part of an improved experience for our customers."

"Innovative insurers are actively exploring ways of applying new technology to age-old challenges," explained Jeremy Jawish, CEO and co-founder of Shift Technology. "It is common knowledge that claims fraud takes place, that it can be incredibly difficult to detect and that it has a negative impact on both insurers and the insured. With our technology, we are helping companies like Admiral Seguros to fight fraud more efficiently to the benefit of everyone involved in the process."

The adoption of Shift Claims Fraud Detection is yet another commitment by Admiral Seguros to the automation and digital transformation of processes that have a direct impact on the improvement of the customer experience, having positioned themselves recently as the first Spanish insurance firm to introduce Artificial Intelligence for the assessment of damage to vehicles.

About Admiral Seguros
In Spain, Admiral Group plc has been based in Seville since 2006, which resulted in the creation of Admiral Seguros. More than 700 people work there, and for the whole of the nation, establishing and marketing its two brands: Qualitas Auto and Balumba. Recognized as the third-best company to work for in Spain, the sixth in Europe and the eighteenth in the world by the Great Place to Work consultancy, Admiral Seguros is committed to a corporate culture that focusses on people. An approach that has meant it can now relish in numerous acknowledgements for diversity and equality within the company, as well as success in the broker channel, one year after the launch of Qualitas Auto Classic.

About Shift Technology
Shift Technology delivers the only AI-native fraud detection and claims automation solutions built specifically for the global insurance industry. Our SaaS solutions identify individual and network fraud with double the accuracy of competing offerings, and provide contextual guidance to help insurers achieve faster, more accurate claim resolutions. Shift has analyzed billions of claims 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.

Contacts:
Rob Morton
Corporate Communications
Shift Technology
+1.617.416.9216
[email protected]

María José Barriga
Admiral Seguros
+34 696 87 22 07
[email protected] 

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SOURCE Shift Technology