Case Study: a top 5 US auto insurer stops policy fraud with Shift Technology

Top 5 US Auto Insurer prevents $30M in underwriting losses with Shift

A top 5 US auto insurer partnered with Shift Technology to address a critical challenge in their underwriting process. They needed to efficiently stop policy fraud and hidden risk at the point of sale, specifically from ghost broker networks, without increasing their current underwriting staff levels, in order to protect customer satisfaction and their brand reputation.

Shift Technology implemented its AI-powered Underwriting Risk Detection solution. This included algorithms to detect misrepresentation during the new business period and network analysis to uncover ghost brokering patterns. The solution was a major success, projecting over $30 million in annual underwriting risk mitigation and generating more than $15 in incremental prevented losses for every new policy reviewed. This enabled the insurer to stop fraud proactively while maintaining staff levels, leading to a multi-year agreement with Shift.