Shift Technology introduced the Insurance Data Network (IDN), a transformative solution designed to enhance cross-carrier fraud detection and provide actionable claims insights. This groundbreaking new technology marks a paradigm shift in how insurers leverage data.
Jeremy Jawish, Shift CEO & Co-Founder, introduces the Insurance Data Network (IDN)
"On behalf of the entire team at Shift, we're very excited to announce the launch of the Insurance Data Network, or IDN. IDN represents a groundbreaking new standard for how insurers share and use claims data to enable enhanced fraud detection.
For too long, traditional data sharing models have had limited insights and often left insurers in the dark about broader industry trends. With IDN, we're changing that. Leading US insurers have embraced IDN because it allows them to collaborate, sharing claims information in a secure environment while retaining full ownership and control of their data. After all, it's their data. They should direct how it is used and who has access to it.
By participating in IDN, insurers get access to actionable insights and enhanced fraud detection and risk prevention through the entire claim lifecycle. In just a few months, IDN members, including four of the top five P&C insurers, have already identified millions in fraud and risk, and this is just the beginning. IDN empowers insurers to understand the trends impacting their business and the industry as a whole, enabling them to stay ahead of fraudsters.
We're thrilled to launch IDN, and invite insurers to join their peers in unlocking the true potential of shared data. Together, we can transform the insurance industry for the better."
