GIA has extended the use of Shift’s AI-powered Claims Fraud Detection solution on behalf of its members, building on the ‘prominent successes’ of the GIA Fraud Management System (FMS).
The solution will support travel insurance fraud detection, and comes at a time when international travel from Singapore has been growing to near pre-pandemic levels.
“Recent, significant successes in insurance fraud detection using FMS resulted in the conviction of multiple insurance fraudsters,” said Ho Kai Weng, Chief Executive at GIA. “This planned expansion allows us to maximise the potential of the travel module and comes at an opportune time of rising global travel. Our collaboration with Shift gives us an important way to detect and manage fraudulent claims at scale. It also augments our sector's existing fraud detection and management efforts.”