Innovative Provider of Insurance for Rideshare Drivers to use Artificial Intelligence to Identify Suspicious Claims
Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, today announced that Buckle, a tech-enabled financial services company, will deploy Shift Claims Fraud Detection, one of the solutions comprising the recently introduced Shift Insurance Suite. The provider of insurance services designed specifically to meet the distinctive needs of rideshare drivers will use the technology to better spot potentially suspicious claims.
Buckle was founded on the premise that traditional insurance products and services are not ideally suited to the unique needs of rideshare drivers. The company also believes strongly that principles such as honesty, integrity, and innovation are the foundation for successful relationships between insurers and their policyholders. Buckle is investing in initiatives to help the company settle claims quickly, accurately, and fairly, all while delivering exceptional customer experiences. Successful fraud detection capabilities that help eliminate friction in the claims process are key to the insurer’s strategy.
“Buckle has done things differently since day one, including not factoring in a driver’s credit score when determining rates,” explained George Rosen, Vice President, Buckle TPA. “We apply some of this same thinking to fraud detection. Since most of our members are not committing fraud, we need a solution that is smart enough to know that and not alert on false positives. Shift Claims Fraud Detection fits our needs perfectly.”
In addition to providing award-winning fraud detection capabilities, Shift Claims Fraud Detection also supports Buckle’s overall efforts to achieve operational excellence in support of future growth. For example, the data mapping and denoising process that initiates an engagement with Shift will help ensure that the insurer’s claims data is clean, and remains clean, as the business expands. Further, the ability to self-configure the solution supports Buckle’s hands-on approach to implementing new initiatives.
“Buckle is transforming the way rideshare drivers purchase and use insurance by tailoring insurance products and services to meet the specific requirements of these on demand economy participants,” stated Dan Donovan, head of customer success, Shift Technology. “We are proud to provide powerful tools to help Buckle know which claims may be fraudulent and which are legitimate, helping to settle claims, and get drivers back on the road more quickly.”