8/14/2023 0 Comments Falcon insurance co![]() The IPO represents an offer of 25 per cent of the total share capital of the company. Arabia Falcon Insurance has appointed Ubhar Capital as the financial advisor and issue manager for the IPO. Through its IPO, Arabia Falcon Insurance is offering 25mn shares at an offer price of 190 baisa per share (comprising a nominal value of 100 baisa per share, premium of 88 baisa and offer expenses of 2 baisa per share). The IPO is open for subscription and close on April 2, 2018. For forward-thinking insurers like Falcon, Shift is making it easier to find and investigate fraud, while at the same time minimizing the false positives that can introduce confusion and delays into the process.Arabia Falcon Insurance (AFIC), part of the region’s oldest insurance group - has announced the launch of its initial public offering (IPO) for public subscription. “Policy holders want to be treated with fairness and integrity. “Claims fraud is a well-known problem in the insurance industry, and for far too long, finding it with consistency and accuracy was a daunting proposition,” explained Jeremy Jawish, CEO and co–founder, Shift Technology. ![]() Recommended AI News : Cryptocurrency Prodigy, Joseph “PlugWalkJoe” O’Connor, Is Helping People Everywhere Master Crypto Further value is delivered via the detailed rationale and contextual guidance provided for why a fraud alert was generated and how to best investigate it. Using artificial intelligence and insurance-focused data science, the company’s fraud detection solution helps insurance companies identify the multiple types of fraud committed by both individuals and networks. “With Shift, we’ve found a company that shares our ideals and offers a powerful tool for fighting fraud in the most effective and efficient way possible.”įor insurance carriers concerned about the impact of fraud, Shift provides claims professionals with the tools required to uncover more fraud with unrivalled accuracy. Every policy holder feels their impact and that’s why Falcon has always been focused on rooting out suspicious claims and ensuring they do not get paid,” explained Joe Mase, chief claims officer, Falcon. “Fraudulent insurance claims are not harmless. Recommended AI News : Atos Helps Researchers And Students To Experiment With Quantum Algorithms By Offering Free, Universal Access To MyQLM After a comprehensive evaluation, the insurer selected Shift, specifically citing its deep insurance industry expertise, focused data science teams, and flexible deployment options. ![]() Knowing this, Falcon initiated a search for fraud detection technology that would meet their key requirements – ability to uncover a wide range of fraud, support for evolving fraud models – including those resulting from COVID-19 – and fast deployment and rapid return on investment. Fraud negatively impacts the customer experience through not only higher premiums but also longer time to settlement. As such, the company strongly believes that the right combination of technology and expertise results in a fast and fair claims experience, the time when policy holders need insurers the most. Recommended AI News : New Global Mood Media Study Reveals Two-Thirds (67%) Of Consumers Have Returned To Non-Essential Shopping In-Storeįalcon has built a successful business on an ethos of simplicity, creativity, integrity, and efficiency. The Illinois-based auto insurer will deploy Force, Shift’s fraud detection solution to accurately and efficiently uncover suspicious behaviors in the claims processes. Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, announced the company has been selected to support fraud detection initiatives for Falcon Insurance Company. ![]()
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