Guidewire, a software company specialising in the property and casualty (P&C) insurance sector, has named Shift Technology as its partner for decisioning solutions for the insurance industry.
This partnership aims to integrate Shift’s AI-powered fraud detection technology with Guidewire’s solutions to enhance efficiency and productivity for claims handlers.
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Shift, founded in 2014, offers AI-powered solutions for fraud and underwriting risk detection, subrogation detection and automating key insurance decisions.
With a 100% focus on the insurance industry, Shift is said to serve more than 115 insurance customers across 25 countries.
The collaboration builds on Guidewire’s investment in Shift’s Series D financing in November 2021.
Guidewire vice-president of global technology alliances Will Murphy said: “Shift offers a robust suite of fraud-detection solutions across key insurance functions and important data science and AI expertise.
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By GlobalData“Over the past five years of collaboration between Guidewire and Shift, Shift was among the first to develop a cloud-based integration and has been an influential resource as we develop the fraud module for Guidewire Autopilot Workflow Service.”
Shift Technology global head of partnerships Drew Whitmore said: “In deepening our relationship, we can continue to meet the evolving needs of insurers around the world and improve the claims process through the integration of two of the P&C insurance industry’s leading solutions.”
Shift joined the Guidewire PartnerConnect programme as a Solution partner in 2019.
In early 2020, the Shift Claims Fraud Detection Add-on for ClaimCenter was published in the Guidewire Marketplace.
The integration allowed insurance professionals to receive real-time alerts in their ClaimCenter environment, facilitating quick, accurate and fair claims decisions, the company noted.
Last month, Guidewire participated in the Series A funding round of Pinpoint Predictive, a risk assessment platform for P&C insurers.
In November 2023, Swiss Re Reinsurance Solutions partnered with Guidewire to create a more interconnected insurance industry through technology, aiming to streamline operations between risks, customers, reinsurance companies and brokers.
