Meeting with Shift, the French leader in AI in insurance

Shift Technology is one of the locomotives of the French insurtech ecosystem. According to CB Insights, Shift ranks 13th in the top 50 global neo-insurances this year. The startup, founded in 2014, is however less known to individuals, as it provides its services to insurers.

To better understand its scope of action and the innovations that Shift offers them, we interviewed Jeremy Jawish, its CEO and Co-founder, and Adrien Terrier, Head of Partnerships for the EMEA region, about the recent alliance forged with the Stelliant consulting company.

Can you tell us about the different products currently offered by Shift?

Jeremy Jawish: We currently offer six different products, but which have one thing in common: they are modules that help automate decision-making for insurers. Here they are :

  • Claims Fraud Detection makes it possible to detect suspicious claims in real time and to effectively fight against fraud. The solution provides clear information to managers, which helps them make decisions quickly, efficiently and with confidence.
  • Claims Intake Decisions simplifies the claims management process, from declaration to settlement, by leveraging Artificial Intelligence.
  • Claims Document Decisions analyzes claims documents to extract relevant information and advance claims resolution.
  • Underwriting Risk Detection detects misrepresentations at the time of underwriting in order to limit the risk of fraud afterwards.
  • Subrogation Decisions accurately identifies recovery opportunities at scale, and helps insurers reduce their losses while providing an excellent customer experience to policyholders.
  • Financial Crime Detection provides insurers with a tool that helps them identify malicious entities and minimize their illegal activities, thus proving their compliance.

In short, a range of solutions that help insurers make accurate decisions, without the need to perform many manual steps. This allows them to free up more time to spend with their customers.


Among this range of products, which is the most popular?

JJ: Historically, it’s fraud detection, but for the past two years the other products have also been in high demand. In fact, our customers regularly opt for several products at once. It must be said that once the first is implemented, it becomes easier to integrate the others into the computer system. Regarding the distribution by products of our customers, these are mainly P&C insurerspositioned in auto, home and health, in particular.

Artificial intelligence (AI) is used in all these products?

JJ: AI is mobilized on all products, and integrated into the way we create our products. Our ambition is simply to introduce AI into the processes of insurersand particularly in their management systems to automate their decision-making processes.

And how does this AI work? She brews the history of past choices to make the best decision?

JJ: It’s a mix, there is indeed a mix of decision histories, but also user feedback, external data, etc. It is a complex technological composition that enables us to be competitive with insurers, but for us the most important thing is that the latter can be as close as possible to their own customers, – whether the claim is covered or not. This is our way of also contributing to a sort of return to the sources of the insurance profession.

“Our market has also matured, when you see the number of players, including Americans, who work with us and become followers of the French market. I have the impression that ten years ago, it was less the case, because we manage to be ahead on several subjects in France, including on software, compared to countries that are very efficient in this area”.

As the locomotive of the tricolor insurtech ecosystem, how do you perceive our market?

JJ: I think the French ecosystem has finally managed to find its trademark, with a technically very solid population no longer dreaming of working only for Silicon Valley companies. This is a huge asset, because the quantity of qualified people that French tech requires is enormous. Our model is also based on the fact that French insurers very quickly agreed to work with start-ups. We often hear that the ecosystem is going slower than in the United States, but in reality insurers have taken the digital turn much earlier in France, which has generated solid partnerships. Finally, we notice that our market has also matured, when you see the number of players, including Americans, who work with us and become followers of the tricolor market. I have the impression that ten years ago, this was less the case, because we manage to be ahead on several subjects in France, including on software, compared to countries that are very efficient in this area, which now buy French.

And as a driving force, do you feel a responsibility to support players who are getting started?

JJ: Absolutely, for example we have the Banque Publique d’Investissement (BPI) as our capital, which allows us to be both supported and close to the ecosystem. Moreover, as soon as we can help the market innovate through partnerships, we do, like with Stelliant for example. Our vision is that the actors of the same ecosystem should not go at all costs towards an exacerbated competition, but rather think about building a common market where everyone becomes competitive by participating in its elevation from a technological point of view. . The shared objective is to make France a country ahead on this key point.

Is this ecosystem able to withstand the drop in investment observed across the Atlantic?

JJ: It is clear that a bubble has burst, including in France, and we will have to learn to do with less investment, which everyone had prepared for. This is the reason why many companies raised a lot last year or at the beginning of the year. It’s actually a return to normal, which will require adapting and staying the course.. In the United States, ecosystems are local and show a remarkable solidarity. It is important that in France, we are inhabited by the same spirit, and that we take advantage of the synergies that have been created during this prosperous period of recent years.

You are just one of the insurtechs that have made significant fundraising in recent years. Have their ambitions been revised following this economic downturn?

JJ: No, for us it hasn’t changed anything, we continue to devote the maximum of our funds to technological investment and the improvement of our products. It must be said that as a B2B actor, we are less tempted by other expenses, such as marketing. We also continue to invest in our R&D center, which is the largest in terms of the number of data scientists dedicated to the sector, with the ambition of becoming the world leader, from France, of AI in insurance.

What is the ambition of this partnership with Stelliant?

Adrien Terrier: The partnership with Stelliant will focus on our claims management automation solutions. We jointly asked how we can help insurers who work with Stelliant to digitize their processes, such as identifying liability, coverage, etc. What matters most to the insurer is to satisfy the insured following a claim. The response and compensation times are essential for the insured to have a good experience of this “bad experience” in itself, which is the claim. If everything goes smoothly, digitally, with a quick proposal, the insured will be more satisfied with the service.

How will this materialize?

AT: In this context, we have established a partnership at two levels. On the fraud part, the objective is to work with insurers who already use Stelliant. We will send alerts directly to the experts, before their intervention, so that they are directed to the points of attention. Thanks to the algorithms, we steer the work of expertise: suspicion of such type of fraud, finer analysis in places, etc. At the second level, we worked on automating claims management, by integrating the expert’s availability slots into our Shift solution.

We want to thank the author of this short article for this amazing content

Meeting with Shift, the French leader in AI in insurance

You can find our social media profiles , as well as other pages that are related to them.