At the end of January, Diot-Siaci Group, a European leader in property and personal insurance consulting and brokerage, and Shift Technology, a French unicorn specializing in the development of AI-based data automation and optimization solutions for the insurance industry, announced that they have decided to combine their expertise to offer a better level of consulting, particularly through the AI of the Shift Claims Fraud Detection solution.

In the insurance brokerage industry, competition is fierce and groups are looking for alliances to strengthen their national and international ambitions. Thus, the Diot-Siaci group was born a few months ago from the merger of Siaci Saint Honoré and Diot. Present in forty countries, it has nearly 5,000 employees and its turnover in 2021 will be close to €700 million. Insurance is a field where fraud attempts are numerous, Diot-Saci will try to remedy this with the Shift Claims Fraud Detection solution.

Shift Technology

Shift Technology, founded in Paris in 2014, has been a member of the very closed club of unicorns since last year and has established itself as a leading player in AssurTech. Thanks to its technology, the company has analyzed hundreds of millions of claims and received Frost & Sullivan’s 2020 Award for “best practices in claims management solutions designed for insurance.” With operations in 25 countries, the company’s clients include major insurance groups such as AXA, AG2R-La Mondiale, Macif, etc.

The French start-up uses artificial intelligence and advanced data science techniques to detect suspicious behavior in claims and to automate claims, it has developed several solutions such as Software as a Service (SaaS), Shift Insurance Suite, launched in January 2021 and Shift Claims Fraud Detection which Diot-Siaci Group will integrate.

Shift Technology and Diot-Siaci

It is Shift Claims Fraud Assurance, a powerful SaaS-based AI solution that would identify individual claims fraud with twice the accuracy and a 75% success rate, that has been integrated by Diot-Siaci. Shift’s data scientists use historical customer data to train the algorithms and then continuously evolve them with new scenarios. Shift’s solution quickly brought to light patterns of abuse or fraud that were previously undetectable by the teams, putting the customer’s needs at the heart of the system. On this collaboration, Arnaud Grapinet, Chief Data Scientist at Shift, states:

“The analytical complexity of anti-fraud required working closely with the DIOT-SIACI teams to train Shift’s detection algorithms for their various use cases. We then collaborated on the definition of alerts and refined the suspicion scores to facilitate the work.“

A solution that creates value for customers and control departments

Mathieu BREMOND, Insurance Compliance Risk & Data Privacy Manager at SIACI SAINT HONORE:

“The integration of analytics and Big data into our controls creates value for our customers and benefits the entire value chain
because our insurance partners will ultimately see a contained claims experience.“

The use of Shift Claims Fraud Detection makes it easier and faster to process claims files, which enhances the work of operational control experts at DIOT-SIACI. Mathieu Bremond concludes:

“Shift Claims Fraud Detection has clearly improved the perception and value creation of this service. It has even become an axis of differentiation. From now on, control is no longer perceived as a cost center but as a business unit in its own right.“

Translated from Lutte contre la fraude à l’assurance : Diot-Siaci adopte la solution Shift Claims Fraud Detection