Insurance data intelligence provider, Percayso Inform, and Shift Technology, a provider of AI-driven decision automation and optimisation solutions for the global insurance industry, today announced the two organisations have entered a strategic partnership to deliver enhanced fraud detection solutions for insurance providers.
In times of financial stress the levels of attempted insurance fraud usually rise, as people look for ways to raise cash. Then there is the temptation to manage factors like postcodes and occupations on car insurance, or non-disclose other information.
The Shift product suite uses Artificial Intelligence to enable insurers to automate and optimise decisions from underwriting to claims, resulting in superior customer experiences, increased operational efficiency, and reduced costs.
Percayso’s insurance intelligence solutions deliver a vast array of performant data enrichment services that are highly predictive of fraud alongside specific and unique capabilities to combat quote manipulation and inform pricing via its proprietary decisioning platform. Percayso’s distribution network allows such insights to be easily consumed at any lifecycle stage, including quote, in milliseconds.
Percayso Inform MD, Rich Tomlinson, said: “Bringing together our insurance intelligence, our access to multiple datasets and our connectivity across distribution channels and combining that with Shift Technology’s enhanced AI-driven fraud detection capabilities will deliver a compelling proposition to UK insurance providers and help them meet the challenge head on .”
Tawinder Singh, EMEA Data Partnership Manager at Shift Technology, stated: “At Shift, we are convinced that the future of insurance starts with the ability to make the best decisions possible. P artnering with Percayso Inform will empower new insights from the Shift decision engine which will enable our insurers to better combat fraud.”
Tomlinson concludes: “As the cost of living crisis bites even harder over the coming months, we’re undoubtedly going to see cases of fraud go up. It’s going to be more important than ever for insurance providers to realise the power of their quote, policy and claim data and access powerful new technology to be able to detect quote manipulation and claims fraud in real time. ”
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