MAPFRE Partners With Shift Tech on Streamlining Claims

MAPFRE and Paris-based start-up Shift Technology have come together to radically transform the
way customers deal with claims, a state-of-the-art, end-to-end claims automation solution.

Shift, who had already disrupted the insurance world with their acclaimed AI-powered fraud solution, is now
leveraging its experience in e-claims to create a state-of-the-art, end-to-end claims automation solution.
Together with MAPFRE, the company aims to deliver an instant, friendly and transparent experience.

Numerous studies show that filing an insurance claim is often cumbersome for customers and that the
process typically takes longer than expected. Once they have notified their insurer of the incident,
customers report finding it difficult to navigate the various steps of the claims process. They say that
the amount of information required is sometimes overwhelming and they are uncertain of how things
will be resolved. A negative claim experience is the leading driver of customers switching insurance
carrier. From the insurer’s perspective, the situation is not much better: claims processing consumes
significant time and resources. Human involvement is significant, even in the simplest of cases, and
multiplies when an assessor needs to inspect and verify the damages in person.

To help address this challenge, Shift has joined insur_space, MAPFRE’s start-up engagement program.
Over the coming months, the two companies will develop a road map to deliver a new kind of claims
experience, starting with homeowner claims related to water damage. Leaks are the main cause of
domestic insurance claims, with studies showing that 54 percent of European homeowners have
experienced a leak at some point. Artificial intelligence (AI) looks set to rapidly change this scenario.

Shift’s claims automation solution uses AI to instantly identify those claims that can be indemnified
immediately, separating them from those that require further intervention on the part of insurance
professionals. The technology reads the insured’s policy and analyses documentation, images, and
other forms of structured and unstructured data to make the right decision about the claim at every
point in the process and delivers a rapid response based on objective criteria. The result is a quantum
leap in immediacy: client response times are now measured in seconds instead of days.

“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,” explained Jeremy Jawish, CEO and co-founder, Shift Technology. “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.”

As Joan Cuscó, director of insur_space by MAPFRE said, “Insurers are in no doubt that AI brings endless
opportunities to profoundly transform the customer experience. We think that what Shift has achieved in
claims automation is an outstanding step forward and we’re honoured to work with them”.

About alastair walker 12577 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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