AI-native fraud detection and claims automation platform Shift Technology has teamed up with global insurer MAPFRE to transform insurance claims.
Shift will build an end-to-end claims automation solution alongside MAPFRE that will give people instant, friendly and transparent experiences.
The InsurTech will work with MAPFRE;s startup engagement programme insur_space. Together they will build a range of claims experiences, beginning with homeowner claims related to water damage. The companies states leaks are the main cause of domestic home insurance claims.
Shift Technology CEO and co-founder Jeremy Jawish said, “The unfortunate fact is that most consumers only interact with their insurance company when something has gone wrong, and a lengthy, unwieldy claims process only serves to make the situation worse.
“Our number one goal is to help clients like MAPFRE deliver the best claims experience possible by providing the most accurate and efficient claims automation solutions available.”
Shift’s claims automation technology utilises AI to identify claims that can be indemnified immediately, separating them from ones in need of investigation interventions. It works by reading an insurance policy and analysing documentation, images and other forms of structured and unstructured data to make the right decision.
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