Shift & P&V Share Same Philosophy of Collaboration
Shift Technology, a provider of AI-native solutions for the insurance industry, has announced it has entered into a long-term agreement with P&V, a Belgian insurer.
As a result, P&V will adopt Shift Technology’s FORCE to automate the carrier’s fraud detection capabilities.
“The selection of FORCE was based on a variety of important criteria. We wanted a solution that was AI-driven and backed by extensive data science and insurance industry expertise. At the same time, we needed to work with a company with which we could truly partner and collaborate on implementing the best fraud detection models. In the end, Shift was the natural choice.” – Claims Director at P&V, Pierre Creuven.
In addition to core fraud detection capabilities, P&V Group’s FORCE deployment features a number of other important capabilities. For example, V-NEO/GFT, an IT provider specializing in solutions for the insurance industry, built a number of integrations between FORCE and existing Guidewire implementation. A key benefit of this project is the ability to seamlessly embed Shift fraud alerts into the insurer’s claims workflow, significantly improving efficiency. Further, Shift will incorporate Belgian-specific third-party data to better detect fraud, and Shift and P&V will jointly work on developing capabilities to better detect fraud in the underwriting process.
“It’s great to be working with a company like P&V Group that shares the same philosophy of collaboration and innovation that we do at Shift. Not only do they see the value of AI-native solutions when it comes to claims fraud detection, they see the potential for its use within other areas as well. We look forward to working together with P&V Group to redefine AI’s role in the insurance industry.” – CEO and cofounder of Shift Technology, Jeremy Jawish.