PARIS (dpa-AFX) - Shift Technology, a provider of AI-driven solutions for the insurance industry, on Thursday announced renewal of its partnership with French insurance company AXA S.A. (AXAHY.PK) for another five years, extending a collaboration that now spans 15 countries across Europe, Asia and Latin America.
By using Shift's insurance-focused AI tools across its core operations, AXA aims to improve efficiency, strengthen fraud detection and enhance customer service.
The partnership, which began in 2016, centers on deploying AI-driven systems for claims processing, fraud detection and underwriting. Shift said the technology has helped detect both organized and opportunistic fraud while accelerating legitimate claims handling.
The renewed agreement supports AXA's 'Unlock the Future' strategic plan for 2024-2026, which aims to accelerate digital transformation and scale innovation through trusted technology partnerships.
'This renewed partnership is much more than a contract extension, it's a strategic relationship built on trust, innovation, and measurable impact,' said Jeremy Jawish, CEO and co-founder, Shift Technology. 'AXA has been one of the first global insurers to embrace AI not as a side initiative, but as a core capability. Together, we're proving how explainable, insurance-specialized AI can create lasting value across an entire group.'
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