From: RegTech Analyst
Génération has tapped fraud detection company Shift Technology to help health insurers control their expenditures and fight fraud.
The news comes after Génération established a centralised fraud detection unit to identify and manage fraud, waste and abuse to meet the rising tide of insurance claims.
“The rules of health insurance change very rapidly and give rise to new patterns of fraud or abuse,” said Gilles Le Vavasseur, operations director at Génération. “As an intermediary with a strong added value on the insurance market, Génération needed to extend its existing tools with a more agile solution, capable of handling this evolution.
“We are working on simplifying the use of our services and interactions with all of our customers, with a specific focus on digital transformation. Shift Technology delivers an innovative solution based on artificial intelligence, fully in line with our approach.”
The initial project will support three of the company’s risk carrier clients representing more than 530,000 insured parties.
“Organisations like Génération know that Fraud, Waste, and Abuse impacts not only the business but also consumers,” said Jeremy Jawish, CEO and co-founder at Shift Technology. “They also understand that effective management of insurance fraud is a powerful way to help control expenditure without affecting policyholders’ contributions.”
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