Case Study: Covéa prevents fraudulent claims at scale with Shift Technology’s real-time fraud detection

Covéa prevents fraudulent claims and saves $1.5 million with Shift Technology

Covéa sought to prevent the payment of fraudulent insurance claims at a large scale. Traditional methods were slow and resource-intensive, creating challenges in mitigating new fraud techniques. To overcome this, Covéa partnered with Shift Technology to implement its AI-based fraud detection solution.

Shift Technology deployed its real-time detection capabilities, which automatically flag potential fraud and halt payments for investigation. This solution prevented high-value fraudulent payouts, such as stopping a single claim worth $91,000. Real-time detection accounts for a significant portion of alerts and has an annual financial impact of $1.5 million for Covéa.

Covéa