#Japan #Generative AI #Tokyo #Tokio Marine #Shift Technology

Shift Technology Unleashes Generative AI for Tokio Marine

In a landmark announcement, Shift Technology, a leading provider of AI-driven decision automation solutions for the global insurance sector, has introduced its generative AI capabilities as part of its service offering to Tokio Marine & Nichido Fire Insurance Co., Ltd. This initiative aims to bolster fraudulent claim prevention and streamline the insurance claims process.

Shift Technology's new generative AI-powered visual intelligence significantly enhances the accuracy of both image and document analysis. This functionality allows for the precise identification of critical information extracted from structured and unstructured data, thereby contributing to the efficiency of the claims process. By leveraging this state-of-the-art solution, Tokio Marine's ongoing efforts to combat fraudulent claims and improve claim handling efficiency are further supported.

Insurance companies rely heavily on documents and images provided by policyholders and other stakeholders to make essential decisions throughout the claims process. The verification, classification, and extraction of information related to claims can be exceptionally time-consuming and labor-intensive. Moreover, as technology evolves, insurance companies face the challenge of identifying new fraudulent claim risks that are difficult to detect with the human eye alone. Shift Technology's research confirms that generative AI is adept at accurately classifying documents and images related to claims, effectively extracting the necessary information to help insurance professionals make optimal decisions. Thus, generative AI serves as an effective tool in addressing the challenges of fraud within the property and casualty insurance sector.

Shift Technology has been actively supporting Tokio Marine in their commitment to safeguarding their customers and society through the provision of solutions utilizing generative AI, machine learning, and Intelligent Document Processing (IDP) for fraud prevention and claims process efficiency. The firm believes that its generative AI-enabled image analysis solution will play a vital role in not only combating fraudulent claims but also in enhancing the overall process of insurance claims management.

About Shift Technology

Shift Technology is dedicated to offering an AI platform tailored for the insurance industry. By integrating generative AI, agentic AI, and predictive AI, the company addresses various challenges related to underwriting, claims processing, fraud detection, and risk management. Through accurate AI-driven decision-making and optimized business processes, Shift Technology aims to enhance customer satisfaction while simultaneously contributing to the revenue growth of insurance providers. Their AI platform boasts a successful track record of implementation across numerous insurance firms worldwide, providing customized solutions tailored to meet each company's specific challenges and needs. For more information, visit Shift Technology's website.