Central Insurance partners with Shift Technology to enhance subrogation detection

Shift Technology, a leading supplier of AI-driven decision automation and optimisation solutions for the international insurance industry, has announced that Central Insurance will be extending the use of their technology to incorporate Shift Subrogation Detection.

Conversely, Central Insurance is renowned for delivering outstanding hospitality and is committed to swift payout to policyholders for covered losses.

The new partnership with Shift Technology enables Central Insurance to better detect claims that may be entirely or partially accountable to a third party. This move comes after the successful integration of Shift’s Claims Fraud Detection to spot suspicious activities in the claims process for the past three years.

Shift Technology provides AI-powered decision automation and optimisation solutions for the global insurance sector. Their product suite allows insurance firms to automate and optimise decisions from underwriting to claims, resulting in superior customer experiences, increased operational efficiency, and reduced costs.

Central Insurance is a trusted insurance provider known for its excellent customer service and quick policyholder pay-outs. The use of Shift’s Claims Fraud Detection has proven instrumental in distinguishing legitimate from suspicious claims, thus facilitating swift and fair settlement of claims.

The incorporation of subrogation detection into the claims process allows Central Insurance to spot concealed subrogation opportunities more effectively and to develop optimal recovery strategies.

Jeff Lieberman, director of anti-fraud and recovery at Central, said, “The intricacy of what goes on behind the scenes is not important to them, but it’s very important to us. Anytime we’re able to efficiently and accurately identify if all or part of a claim is the responsibility of a third party, we ensure our policyholders are paid quickly while creating opportunities to recover that loss for the business.”

Shift Subrogation Detection aids insurers in accurately identifying subrogation opportunities at scale and recommends claim handler actions that enhance recovery outcomes. This decreases claims leakage whilst delivering a top-tier customer experience.

Vice president of claims at Central, Paul Edwards, said, “Central is turning to innovative solutions like Shift Subrogation Detection to better understand what’s happening in the claims process and ensure the parties truly responsible for a loss are held accountable.”

Keep up with all the latest FinTech news here.

Copyright © 2023 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.