Auto insurer L’olivier is looking to beef up its fraud detection capabilities with the help of Shift Technology, the InsurTech company.
L’olivier is direct insurer created in 2011 and a subsidiary of Admiral. Its CEO Pascal Gonzalvez made no secret of why tackling car insurance fraud is important for the company.
“Fraud systematically increases the price of all insurance policies, forcing all policyholders to bear the costs of the behaviour of a few fraudsters,” he said. “At L’olivier, we are convinced that every policyholder should pay a fair price. Fighting actively against fraud is a way of re-establishing fairness for our policyholders, something that is a central value in the culture of L’olivier. Shift will help us to carry on offering the lowest price.”
And that’s where this new partnership comes in. “Shift will help us in building out our capabilities,” explained Janny Druon, head of the claims analytics team at L’olivier. “Their solution improves our ability to detect fraud by reducing the number of irrelevant cases, at the same time as it enhances our ability to prove fraud by providing administrators with avenues of investigation, enabling us to avoid payment of fraudulent claims.”
L’olivier hopes that the partnership will enable it to automatically receive alerts for potentially fraudulent claims on a daily basis, sent directly via an intuitive, user friendly interface by the end of 2019.
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