The Paris-based insutech Shift Technology, a SaaS provider of artificial intelligence (AI)-driven decision automation and optimization solutions for the global insurance industry, has introduced Shift Claims, a new agentic AI-powered platform aimed at reshaping how insurers handle claims.
Shift Technology, founded in 2014, has long specialised in AI-driven solutions for fraud detection and claims efficiency. With this launch, it wants to push claims operations into a new phase of automation and accuracy.
The system provides claims handlers with assessment, prioritisation, workflow automation, and decision support throughout the claims lifecycle.
Unlike earlier tech-driven transformation projects, which often underdelivered, Shift Claims uses agentic AI to gauge claim complexity, determine urgency, and support handlers with contextual recommendations.
The model blends automation with human oversight, ensuring that decision-making remains accurate while driving down costs and improving customer outcomes.
Eric Sibony, Shift’s chief scientist and chief product officer, argued that past failures stemmed from tools not built to handle the complexity of claims.
It is not surprising that the results promised by claims transformation projects over the years have failed to materialize, because most technology based approaches were simply not up to the task of addressing claim complexity.
Eric Sibony, chief scientist and chief product officer at Shift Technology
Agentic AI provides insurers with a powerful transformation tool that increases automation when appropriate and also provides the right kind of advice, guidance, and recommendations when a human claim handler needs to be in the loop,” Eric Sibony said.
AXA Switzerland is among the early adopters. COO Markus Keller said the carrier wanted an AI-powered solution that could increase automation while still equipping claims professionals with the data they need when stepping in. The company believes Shift’s approach ensures the “best actions” are taken as claims progress, enhancing both efficiency and customer experience.
We are looking for an AI-powered solution to support our claims transformation and to increase automation while ensuring that claims professionals, when human intervention is required, have all the information available for optimal decision making.
Markus Keller, COO and head of customer operations at AXA Switzerland
“The Shift approach to agentic AI gives us confidence that best actions are enabled and taken as claims move through the process, resulting in enhanced efficiency and excellent customer experience,” Markus Keller noted.
Early rollout results show measurable impact: a 3% reduction in claims losses, 30% faster handling, a 60% automation rate, and more than 99% accuracy in assessment.
The platform functions as an AI layer integrated with insurers’ existing core systems, working alongside claims teams rather than replacing them.
Sibony said insurers adopting the technology now are positioning themselves ahead of industry shifts. “With Shift Claims we are giving insurers an amazing opportunity to move beyond traditional approaches,” he said. “Agentic AI allows carriers not just to meet evolving demands, but to lead the future of claims management.”
Shift Technology in 2021 closed a Series D investment round of $220 mn led by Advent International, through Advent Tech, with participation from Avenir and others.
Previous Series C participants Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also joined the round. The latest funding round brings total investment in Shift to $320 mn and a market valuation of more than $1 bn.
The investment will fuel the company’s execution of its vision to revolutionize the policyholder experience through wide-ranging products that apply AI and advanced data science to key insurance processes.
“Since its founding in 2014, Shift has made a name for itself in the complex world of insurance,” said Thomas Weisman, a Director on Advent’s technology investment team in London.
Shift’s advanced suite of SaaS products is helping insurers to reshape manual and often time-consuming claims processes in a safer and more automated way. We are proud to be part of this exciting company’s next wave of growth.
Thomas Weisman, a Director on Advent’s technology investment team
Initially known for its award-winning fraud detection and claims automation software, in January 2021 the company introduced the Shift Insurance Suite to enable insurers to apply AI-based decision automation and optimization technology to an even wider array of critical processes across the policy lifecycle, including underwriting, subrogation, and compliance.
The company now serves more than 100 customers in 25 different countries and has analyzed nearly two billion claims to date.
With this latest round of funding Shift will advance in its mission to drive digital transformation in the global insurance industry.
By supplying the tools and technology required for insurers and their employees to make the best decisions possible, Shift is enabling carriers to deliver exceptional business and policyholder outcomes.
Shift will use this investment to expand its presence in key geographies including the U.S., Europe, and Asia. In the U.S., the company will look to further penetrate the property and casualty (P&C) insurance market as well as expand into the health insurance sector, an area in which Shift sees a large opportunity.
The funding will also be used to drive R&D efforts in the creation of new solutions to address emerging decision automation and optimization requirements for forward-thinking insurers.
