compliance_monitoring · finance · workflow
Shift Technology detects underwriting fraud for top 5 US P&C insurer, projecting $30M+ in annual mitigation
A top 5 U.S. P&C insurer needed to detect fraud and misrepresentation in new auto policies during the underwriting 'free look' period without expanding staff, while ghost broker fraud networks were generating claims with a 500% average loss ratio threatening customer satisfaction and brand reputation.
How it works
Common implementation structure
How this type of workflow is generally built, generalized across documented cases — not tied to any one vendor's stack. Click any stage to read what happens there. Specific products that implement these stages appear in “Tools commonly seen” below.
Stage 1 · Free-look period analysis trigger
Daily analysis during the new business 'free look' period initiates the underwriting fraud detection workflow.
Tools used
Shift Claims Fraud Detectionnetwork analysis AIentity resolution AI
Outcome
Shift's Underwriting Risk Detection generated more than $15 per new policy in incremental prevented losses, projecting over $30M USD annually in underwriting mitigation, with a 40% impact rate on policy alerts and 500% average fraud network loss ratios avoided — all while maintaining existing Underwriting staff levels.
Results
Volume500%
Cost replacedmore than $15 for every new policy
Grounding & classification
Source type: vendor customer story
26 fields verified against source quotes, 1 dropped as unverifiable.
anomaly detectionfraud detectioninsurance claimpolicy documentfailure mode describedhuman review describedmetric backedproduction runtime claimedtools describedvendor confirmedworkflow describedinsurancecost reductionerror reductionthroughput increasevendor customer storycompliance monitoringextract classify routemonitor detect alert