IDN Delivers Actionable Fraud and Risk Insights From Shared Insurer Data

BOSTON and PARIS, April 2, 2025 /PRNewswire/ -- Shift Technology, a provider of AI-powered decision optimization solutions for the global insurance industry, today introduced the Insurance Data Network (IDN). The network allows members to benefit from industry-wide intelligence made possible through the collaborative multi-carrier exchange of claims and related data. By participating, insurers gain valuable insights and analysis to enhance fraud detection and risk prevention throughout the entire claims lifecycle.

IDN has rapidly gained acceptance within the industry and is now live and operational.  Four of the top five  U.S. property and casualty (P&C) insurers are contributing members, among many others. The network encompasses a substantial majority of U.S. auto and property claims across all 50 states, and its claims volume is growing quickly. In just the first few months, members have already identified millions of dollars in net new fraud schemes thanks to IDN's advanced fraud and risk detection capabilities.

IDN offers significant advantages over legacy data-sharing models. First, IDN members retain full ownership and control of their data, ensuring it is never sold back to members or resold to third parties.  Compared to traditional systems, IDN also provides a more comprehensive set of claims data and related intelligence in real-time, offering deeper context for fraud detection and risk assessment. Finally, Shift's AI-powered products are inherently designed to leverage diverse data sources. Intelligence from IDN enhances the performance of the Shift products customers already use.

"IDN empowers insurers to get more value out of their data by providing a secure environment in which to share it and collaborate with other carriers," explained Jeremy Jawish, CEO and co-founder, Shift Technology.  "Gaining a more complete understanding of the forces impacting their business and the industry as a whole, and to do so quickly and efficiently, is an amazing value proposition and a new way to harness the power of shared data."

According to the Coalition Against Insurance Fraud, insurers record nearly $122 billion in P&C insurance losses annually due to fraud, with an estimated 10 percent of claims exhibiting signs of fraudulent activity. In this landscape, where the same fraud rings or providers affect multiple insurers, gaining greater visibility into these entities is essential. Early results from the IDN indicate that when cross-carrier data is analyzed, identified fraud networks have, on average, tripled in size.

Participation in IDN provides insurers with valuable insights into claims on an industry-wide or region-specific basis. This information can uncover policyholders who have a history of suspicious behavior or proven fraud across multiple carriers. By understanding a claimant's interactions with various insurers, IDN members can expedite investigations and achieve better outcomes. 

"Insurers are continuously working to stay ahead of fraudsters as they recognize that their fraudulent activities extend beyond the scope of a single insurance company," explained Karlyn Carnahan, CPCU, head of insurance, North America, Celent. "Until recently, insurers had limited tools to understand behaviors of fraudsters beyond their own experiences. However, with this new ability to gain visibility, analyze, and extract insights from shared experiences across the industry, insurers have now regained control and power in fighting fraud."

IDN enhances fraud and risk detection throughout the claims process. For instance, when a claim includes personal injury protection and bodily injury (PIP/BI), it can significantly increase costs and risks for insurers. Therefore, the ability to quickly and accurately assess the impact of these claims is crucial for effective management.

Currently, claims handlers often face the daunting task of reviewing extensive demand packages and manually analyzing many pages of claims data to identify any relevant or actionable information. Membership in IDN allows insurers to automate this process. By leveraging data-driven insights, insurers can quickly determine if current or past PIP/BI claims involve providers—whether medical or legal—who are on the insurer's internal watchlist or have been sanctioned or suspended. This enables claims to be expedited to the Special Investigations Unit (SIU) or referred to medical management for further review.

IDN provides members with accurate, actionable, automated, and secure insights derived from shared insurer data. Membership in IDN is designed to enhance an insurer's fraud detection and claims handling strategies, offering several key benefits, including:

• Accurate Data-Driven Insights: Through detailed data mapping and AI-powered entity resolution across carriers, IDN generates highly accurate insights and recommendations automatically integrated into the insurer's workflows and user interfaces. 
• More Advanced Fraud and Risk Detection: By leveraging shared data, IDN enhances fraud and risk detection capabilities.  This collaboration helps uncover fraud schemes and networks that affect the entire industry, leading to more effective prevention and response strategies. 
• Actionable Claim History Intelligence: IDN allows claim handlers to swiftly identify cross-carrier patterns of suspicious and risky claim behavior in both past and current claims.  Insurers can define and configure the relevance threshold for receiving loss history insights and information, ensuring that they receive the most pertinent intelligence for their needs.
• Proactive Automation, Context and Explainability: IDN proactively and automatically transforms data into actionable insights, delivering findings directly to users. This eliminates the need for manual search, matching and analysis, streamlining the claims process and enhancing efficiency.
• Data Ownership:  IDN members retain ownership of their data and have full control over its usage. Member data is not sold to third-parties.
• Data Security and Privacy: The data of IDN members is safeguarded by industry-leading data security and privacy protocols.  These protocols include strict compliance with established data security and privacy guidelines, ensuring the protection of sensitive information. 

"The insurance industry has long known that data, and the insights it can provide, are highly valuable and critical to long-term success," continued Jawish. "With the launch of IDN, insurers are changing the way they benefit from their own data. The ability to use shared data in new ways, to gain greater understanding of what's happening across the industry and have that knowledge and information at their fingertips is incredibly valuable."

About Shift Technology
Shift Technology delivers AI-powered decisioning solutions to benefit the global insurance industry and its customers. Our products enable the world's leading insurers to improve combined ratios by optimizing and automating critical decisions across the policy lifecycle. Shift solutions help mitigate fraud and risk, increase operational efficiency, and deliver superior customer experiences. Learn more at www.shift-technology.com.

Contacts:
Rob Morton
Corporate Communications
Shift Technology
+1.617.416.9216
rob.morton@shift-technology.com

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SOURCE Shift Technology