Covéa Modernises Fraud Controls with Shift

UK insurer Covéa has embarked on a comprehensive transformation of its fraud and risk management processes, partnering with Shift Technology as a long-term strategic ally. The initiative introduces a unified, end-to-end platform covering underwriting, claims handling, and mid-term policy adjustments, replacing the insurer’s previously fragmented approach to risk detection.

This move enables Covéa to maintain a consistent and holistic view of risk across the entire insurance lifecycle, from policy inception to claims settlement. By consolidating data and insights on a single platform, the insurer aims to enhance operational efficiency, improve decision-making, and better protect its portfolio.

Key Features of the Shift Platform

Shift’s AI-driven solutions span multiple operational areas:

The underwriting component alone demonstrated a return on investment within three months of implementation, largely due to earlier risk identification and decreased leakage.

Data Integration and Analytics

At the heart of the system lies Shift’s sophisticated data analysis engine, which integrates information from multiple third-party sources, including CUE Data and Companies House. The platform aggregates and evaluates this data to generate explainable risk signals, providing actionable insights across motor, home, commercial, and high-net-worth insurance lines.

These insights allow underwriters and claims teams to prioritise cases effectively and intervene at an earlier stage in the policy lifecycle, reducing potential losses and enhancing customer experience.

Industry Perspective and Future Plans

George Robbins, Head of UK Markets at Shift Technology, commented:
"Covéa’s approach exemplifies a broader market trend, where insurers are integrating fraud detection within a full end-to-end transformation agenda. By combining predictive models, generative AI for case synthesis and explanation, and agentic capabilities to orchestrate actions under human oversight, insurers can take timely, consistent measures and generate measurable value at scale."

The partnership is expected to expand as Covéa explores further automation opportunities and innovative risk-management use cases aligned with its evolving operating model.

Stephen Long, Claims, IT & Operations Director at Covéa, added:
"Shift marks a transformative step in managing financial crime risk and represents a key milestone in our AI journey. The platform enables smarter, more efficient operations while safeguarding our business. It lays the foundation for a resilient, automated, and consistent AI-driven approach for the future."

This strategic adoption of advanced AI highlights Covéa’s commitment to modernising core platforms and establishing robust, forward-looking risk management frameworks.