Partnership expands between fraught-fighting data company, Legentic Mohawk Automation and Danish insurance group, Alm. Brand Group, in conjunction with Shift Technology.
Oslo, July 2023 - Alm. Brand Group, the Danish financial services group operating within non-life insurance, and Legentic, the fraud-fighting data company, have expanded their partnership further by signing a 3-year contract for Legentic Mohawk Automation to be used in conjunction with Shift Claims Fraud Detection, the fraud detection solution offered by Shift Technology.
“We are very happy that Alm. Brand Group is renewing the contract with Legentic for another three years. It makes me even more proud that they are the first customer that started using Legentic Mohawk Automation in coordination with our partner Shift Technology. It is great to see that after signing our partnership agreement with Shift in mid-2022, we have our first customer that goes live. This deployment showcases the value of our data when used to inform Shift’s algorithms, to fight against insurance fraud and other financial crime”, states Alessandro Sta, Customer Success Director at Legentic.
“Alm. Brand Group and Legentic have been working together since 2017, using Legentic Mohawk platform in their SIU and Claims departments. The strategic partnership with Shift is giving this renewal a great value as our integrated data is now also used in the Claims handling process”, says Ville Tegelberg, Customer Success Manager at Legentic.
The Legentic/Shift partnership allows for the seamless integration of Legentic’s data into Shift’s artificial intelligence (AI) models, allowing insurers to uncover potential claims fraud making the process faster and more efficient by presenting the claims professionals with fewer false positives. The partnership between Legentic and Shift addresses the significant challenge of processing massive amounts of data by making third-party data available for use in advanced fraud detection models.
“It is well known that the amount of available data, and its quality, are directly related to the effectiveness of AI-driven solutions,” said Tawinder Singh, Head of Data Partnerships, Shift Technology. “Through our partnership with Legentic, we are able to provide insurers like Alm. Brand Group with the data they need to be the most effective fraud fighters possible.”
“We’re looking forward to this new initiative with Shift partnership, and we expect Legentic Data Automation to bring value to our daily operations”, says Henrik Bundgaard, Group Executive VP/Claims Director, Alm. Brand Group.
About Legentic: Legentic offers unique and innovative solutions focused on validation, exposure of fraud, and asset recovery. We collect open-source data from multiple sources worldwide, enriched through AI and machine learning, and converted into easily accessible digital footprints. Through our SaaS platforms, Legentic Mohawk and Legentic Sjerlok, we help our customers worldwide to prevent and fight credit loss and financial crime in a better, faster way. Learn more at www.legentic.com.
About Alm. Brand Group: The Alm. Brand Group is a unified, leading Danish insurance group focused on non-life insurance. With more than 700,000 customers combined, Alm. Brand Group are Denmark’s second-largest non-life insurance company. Learn more at www.almbrandgroup.com.
About Shift Technology: Shift Technology delivers AI decisioning solutions to benefit the global insurance industry and its customers. Our products enable insurers to automate and optimize decisions from underwriting to claims, resulting in superior customer experiences, increased operational efficiency, and reduced costs. The future of insurance starts with Decisions Made Better. Learn more at www.shift-technology.com.