Laura Horrocks is a Customer Success Manager here at Shift Technology.
In this instalment of the “Four Questions with” series we talk with Laura about her career path, common customer concerns and trends in the UK insurance industry, and unique challenges faced by customer success teams in the UK insurance market.
Shift Technology: Tell us a little about your background, and what brought you to Shift?
Laura Horrocks: Sixteen years ago, I entered the insurance industry as a Claims Handler, intending it to be a temporary role while I explored other career opportunities. But I soon found myself deeply interested in the claims process, particularly in fraud detection. Over time, I expanded my expertise across different lines of insurance, starting with motor fraud and eventually moving into liability, travel and commercial insurance.
When my former employer implemented Shift’s solutions, I became fascinated by the combination of humans and technology working in partnership to identify fraud. Although I never aimed to work in the technology space, I found myself naturally gravitating toward the more technical aspects of fraud detection. I've been especially interested in how AI can help detect fraud early, protecting genuine customers and helping insurers make better decisions throughout the policy’s lifecycle.
In the fast-moving UK insurance market, it’s essential to have accurate predictions about changes in fraud activity. I was particularly impressed by Shift’s dedication to the insurance fraud market. Customers receive the advantage of working with insurance industry experts and a leading data science team, along with an adaptable and tailored approach for agile detection methods.
After spending the majority of my career at the same company, I was looking for a change. When a role in the Customer Success team at Shift became available, I jumped at the opportunity to use my experience and expertise to benefit multiple insurers. Since joining in April, I've enjoyed every minute and am excited to see what the future holds at Shift.
Shift Technology: What are the unique challenges faced by customer success teams in the UK insurance market, and how do you navigate them?
Laura Horrocks: One unique challenge is the need for a dedicated customer success team, which plays a critical role in fostering strong relationships between customers and suppliers. During the implementation period and beyond, it’s essential to understand each customer’s specific needs and tailor the product to fit their unique business requirements. Insurance, especially in the fraud arena, is not a one-size-fits-all market.
Different customers face varying levels of fraud risk and have different appetites for risk. What constitutes a significant threat for one insurer might be less relevant to another. Therefore, our approach involves adapting our solutions to meet the individual needs of each customer.
Staying ahead of emerging fraud risks is crucial. Without the support of advanced technology, our customers could become targets for organised fraudsters who are constantly seeking out vulnerabilities in processes and systems. While there is a growing push towards straight-through processing to enhance the customer journey for genuine policyholders, this also necessitates robust fraud detection measures to prevent exploitation.
By continuously updating our understanding of fraud trends and integrating advanced detection technologies, we ensure that our solutions remain effective and responsive to the evolving landscape of fraud risks.
Shift Technology: What are some common customer concerns and trends in the UK insurance industry, and how do you address these in your role?
Laura Horrocks: One key concern is the need to detect and prevent fraud as early as possible, ideally at the point of quote. By implementing robust measures and barriers from the outset, we aim to prevent fraudsters from acquiring policies or, in the event of a claim, from receiving fraudulent payments.
Having experience on both sides of the industry—as a customer and a supplier—I recognize the challenges we face. The industry has strong compliance and data security measures, which are crucial for protecting the market. However, fraudsters often operate outside these restrictions and can adapt their tactics almost instantly. To address this, we continuously refine our fraud detection strategies, leveraging advanced technologies and staying updated with the latest fraud trends. This proactive approach ensures we remain ahead of evolving threats and maintain the trust and security our customers expect.
We focus on educating our clients about emerging fraud patterns and best practices for safeguarding their operations. This not only helps in preventing fraud but also in fostering a collaborative effort to enhance overall industry resilience.
Shift Technology: How do you incorporate UK-specific trends or regulations into your customer success strategies and practices?
Laura Horrocks: To address UK-specific trends and regulations, it’s crucial for us to adapt quickly to emerging threats in the market. This involves staying informed about the latest developments and using that knowledge to protect and educate our customers. We communicate these insights and strategies effectively between customers and our data science team to ensure that potential risks are addressed proactively.
Each day presents new learning opportunities as the UK market continuously evolves with new threats. Maintaining strong relationships with customers and their broader teams is essential for collaborative discussions about emerging threats. Often, what might seem like an isolated issue for one customer can reveal broader patterns when discussed collectively. This approach helps us identify and address potential threats more effectively.
We also analyse data to detect patterns and anomalies that might indicate emerging risks. By highlighting these findings to our customers, we help them implement protective measures and enhance their fraud detection capabilities. Customers who achieve the best results typically have robust and comprehensive data sets, which allows us to intervene early and provide a broader perspective on network activity, such as identifying trends in specific areas or postcodes. This comprehensive view helps us assess and respond to threats more effectively, beyond the scope of individual claims.
