Cross-carrier collaboration is fueling the next evolution of insurance fraud detection and claims management. At the core of this evolution is the Insurance Data Network (IDN), a transformative new technology that enables insurers to unlock the full potential of their data assets.
Top 5 insurer identifies fraud network is shared data proof of concept
Hear from Shift's head of customer success and solution consulting on how IDN is transforming the way insurers tackle fraud & risk in this highlighted case from a Top 5 insurer.
This video features a case highlight from a top 5 P&C carrier in the United States who participated in our shared data proof of concept. They had already identified an attorney that they believed was committing fraud against them in a pretty serious way. And they had about 100 claims associated to that attorney that they were aware of. By applying shared data to that network, we identified an additional 200 claims and approximately $2.1 million in fraud associated to that attorney. More importantly, we were able to identify two additional providers that were previously unknown - one being a medical provider and another being a medical clinic - and there's no way those providers would have been identified without shared data.
