MAPFRE is set to create a new claims process supported by technology from claims automation firm Shift.
The Spanish insurer will leverage Shift’s end-to-end claims automation solution in an effort to deliver a more friendly and transparent experience for clients.
Shift has joined MAPFRE’s startup engagement program insur_space and over the coming months will help develop a roadmap meant to deliver a new kind of claims experience, starting with homeowner claims related to water damage.
Shift’s claims automation solution uses AI to instantly identify those claims that can be indemnified immediately, separating them from those that require further intervention on the part of insurance professionals.
The technology reads the insured’s policy and analyzes documentation, images, and other forms of structured and unstructured data to make the right decision about the claim at every point in the process.
“The unfortunate fact is that most consumers only interact with their insurance company when something has gone wrong, and a lengthy, unwieldy claims process only serves to make the situation worse,” explained Jeremy Jawish, CEO and co-founder, Shift Technology.
“Our number one goal is to help clients like MAPFRE deliver the best claims experience possible by providing the most accurate and efficient claims automation solutions available.”
Joan Cuscó, director of insur_space by MAPFRE added, “Insurers are in no doubt that AI brings endless opportunities to profoundly transform the customer experience.
“The industry has been working on this basis for a few years now, maybe with more impetus than success, particularly in the field of claims. We think that what Shift has achieved in claims automation is an outstanding step forward and we’re honored to work with them.”