PARIS and BOSTON, June 3, 2021 / PRNewswire / – Switching technology, a provider of AI-powered decision automation and optimization solutions for the global insurance industry, announced today that Aéma Groupe, a long-standing customer of Shift (through its subsidiary La Macif), is expanding its collaboration with the company. Aéma Groupe is stepping up the use of InsurTech and AI to standardize anti-fraud, money laundering and terrorist financing mechanisms across all business areas. The overall goal of the partnership is to centralize all Aéma Groupe processes and data in order to improve the performance of the AML / CFT mechanism.
A group approach to AML / CFT compliance
In line with its values as a mutual insurance company, in 2018 La Macif implemented a comprehensive strategy to detect and combat fraud in its core property and casualty (P&C) business. In collaboration with Shift, Aéma Groupe is extending these efforts to its health and emergency business areas. Since AML / CFT strategies are highly regulated and require detailed, uniform customer knowledge of the various business areas, the Aéma Groupe – supported by the already successful cooperation in the P&C area – decided in favor of Shift.
“The success of the measures in the field of motor insurance and later in household insurance, as well as the need to centralize all of our processes and automate the AML / CFT processes, prompted us to turn to Shift again,” explains Christophe Raballand, Internal Audit and Compliance Manager at Aéma Groupe. “The Shift solution puts AI and data science at the service of automation.”
An agile solution based on AI, designed to unify data and facilitate decision-making.
The Aéma Groupe wanted to implement a unified automated solution to provide a global vision of their activities. By sharing and processing the data of customers with several different contracts (P&C, life, health and emergency) in a single tool, the group can work much more efficiently, as all data no longer has to be manually processed and analyzed, and duplicate activities can be avoided become. This strategy also speeds up the exchange of information between the teams. Shift’s innovative AI-based technology enables the group to automate all business practices and processes, streamline the vast amount of customer knowledge and improve operational efficiency.
“The Aéma Groupe believes in the value of our solutions and has been using Shift to fight fraud for several years. We are proud to be able to support the group in solving further problems in all business areas. Our Shift Insurance Suite enables Aéma Groupe to develop a close bond with the insured, “said Benoit Legros, Vice President, Customer Success, Layering Technology.
In addition to the use of technology, the Aéma Groupe also relies on the skills and market experience of the Shift teams to further develop their organization in this area.
About the layer technology
Shift Technology offers the only AI-native decision automation and optimization solutions specifically designed for the global insurance industry. Shift Insurance Suite addresses several critical processes across the life cycle of insurance policies, helping insurers achieve faster, more accurate claims and insurance solutions. Shift has analyzed billions of insurance transactions to date and was awarded the 2020 Global Claims Solutions for Insurance Market Leadership Award by Frost & Sullivan. For more information, please visit www.shift-technology.com.
SOURCE shift technology