Change Technology Holds $10 Mil To Prevent Fraudulent Insurance Promises

French new venture Shift Technology just raised a $10 million Sequence A round from Accel, with current investors Elaia Partners and Iris Capital also engaging. Shift Technology uses huge data and machine finding out how to detect styles of deceptive insurance promises. This way, insurance companies can save cash.
Shift Technological innovation uses a Software-as-a-Service approach in order that its equipment get better as time passes. All the data the company gathers from all its clients can teach its algorithms.
Insurance scam is a large market as insurance companies have a very lot of money and therefore are always looking for way to improve claims. Something that lets these businesses save money is worth doing. Therefore Shift Technology's platform seems like an easy market.
Right now, fraud detection will be manual and lots of frauds slide through the program. Shift Technological innovation puts a red gentle on suspicious claims and tells you the reason why. The startup also suggests actions to investigate on a particular claim.