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Global Fintech Series
1d
182
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Groundbreaking New Standard for Cross-Carrier Data Sharing Introduced by Shift Technology
- Shift Technology introduced the Insurance Data Network (IDN) for insurers to collaborate and share data for fraud detection and risk prevention.
- IDN has gained industry acceptance and includes top U.S. property and casualty insurers, aiding in identifying new fraud schemes.
- IDN offers advantages like data ownership, real-time data sharing, and enhanced fraud detection capabilities through AI.
- Participation in IDN allows insurers to gain insights into industry-wide fraud networks and expedite investigations.
- Insurers benefit from automated analysis in the claims process, identifying high-risk claims and expediting referrals.
- IDN provides accurate and actionable insights derived from shared data, enhancing fraud detection and claims handling.
- Key benefits of IDN include accurate data-driven insights, advanced fraud detection, actionable claim history intelligence, and data ownership.
- IDN ensures data security, privacy, proactive automation, and context in delivering insights for insurers.
- The launch of IDN signifies a shift in insurers benefiting from shared data to enhance understanding of the industry.
- Shift Technology's AI-powered solutions aim to improve insurers' operations, mitigate fraud and risk, and enhance customer experiences.
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