Artificial Intelligence Working To Detect Auto Insurance Fraud

L'olivier - assurance auto, an auto insurer and French subsidiary of the English group Admiral, a European leader in automobile insurance, is joining InsurTech Shift Technology to fight against car insurance fraud. According to insurance magazine l'Argus de l'Assurance, in 2014 fraud represented 2.5 billion Euros in damages, only €219M of which have been recovered by insurers. Faced with such high figures, which are also on the increase, the aim of L'olivier is to rely on artificial intelligence and data science to automate and optimize the detection of suspicious claim files. For L'olivier, a direct insurer created in 2011, it was important to reinforce its plan to fight against fraud by establishing a dedicated unit: "Shift will help us in building out our capabilities. Their solution improves our ability to detect fraud by reducing the number of irrelevant cases, at the same time as it enhances our ability to prove fraud by providing administrators with avenues of investigation, enabling us to avoid payment of fraudulent claims," explains Janny Druon, head of the Claims Analytics team at L'olivier.