There is no doubt that the business world has changed a lot over the last several years. In the last year and a half alone, the COVID pandemic has forced some businesses to change the way they do their day-to-day business. In other cases, it has forced people out of business. One of the individuals who has learned how to adapt is Jeremy Jawish, the co-founder and CEO of Shift Technology based in Paris, France. Below are 10 things that you might not yet know about Jawish. Make no mistake about it, you may not have yet heard the name, but you can bet that he is very much involved in things that you use every day, mainly things involving your various insurance policies.
1. He’s a mathematics expert
Shift Technology uses mathematical algorithms to determine whether or not someone is making fraudulent claims to their insurance company. As you can imagine, this requires someone that has virtually unmatched knowledge of mathematics and Jawish certainly fits that description. He studied math at Ecole Polytechnique, one of the foremost institutions of its type in France. In fact, this is where the brainchild for Shift Technology came into existence in the first place.
2. It all started with an internship
People that go to college routinely do internships. More often than not, there isn't much that really comes out of it. A fortunate few end up with a job, usually something that culminates from months or even years of doing an unpaid internship. In the very best of cases, some of those internships pay just enough to afford a place to stay and food to eat. In Jawish’s case, it turned into a multimillion-dollar business opportunity. All he needed was inspiration and he found it when doing an internship with an insurance company. During that time, he was placed in the Research and Development department, all in an attempt to help reduce the fraudulent claims that were coming through. It didn't take long before he figured out that he could develop something that could revolutionize the insurance industry, and so his pet project was born.
3. He's also an expert software developer
It can be hard to be a mathematics expert without having the knowledge to apply it to daily life in a more practical sense. For Jawish, that was not a problem, largely because he also knows how to develop software that can use these specialized mathematical algorithms. He did exactly that in 2014 when he created Shift Technology. It's as simple as running individual insurance claims through his software program, which then detects the likelihood that the claim is fraudulent based on certain mathematical algorithms, as previously discussed. Since 2014, he has become a partner with over fifty different global insurance companies, employing more than 100 people on his own. He's even opened offices in eight different countries.
4. He takes big data to an entirely new level
You might have heard the term big data in the past. It usually refers to throwing massive amounts of data into a computer system in order to simplify something that a business can then use in day-to-day operations. That is precisely what he has done here. The end result is money saved by insurance companies, not to mention his ability to make a great deal of money from the entire process.
5. He stays involved from start to finish
Jawish is not one to start something and then walk away. Just as he has proven with his business, he tends to stay involved with something from the moment it is conceived until it is completely finished. This is something that he has adopted throughout his life in order to ensure that things are done to his standards. In truth, it seems to be something that has benefited him quite well.
6. He knows how to stay ahead of the game
Things are always changing in the business world. Information based on mathematical algorithms seems to change even faster. Jawish has always been good at adapting to virtually any obstacle that has presented itself in his life and he's proven that time and again by learning how to adapt his business in order to keep it relevant in a world that changes on daily basis.
7. He believes in the power of Artificial Intelligence
It only stands to reason that someone who has always depended on technology for the very existence of his business would be on the precipice of the biggest advancements. As a result, he has spoken out a number of times about his belief in the ability of Artificial Intelligence to reduce fraudulent insurance claims, thereby streamlining the entire process for other individuals. Of course, he has also spoken out about his belief that AI can help in a number of different situations, ranging from the most routine to the most complex.
8. He used his business skills to adapt during COVID
Clearly, this is not a run-of-the-mill business that does things in the same way that every other business has been doing them for decades. Jawish has always been rather cutting edge and he used those skills during COVID to adapt his business so that things could keep moving at a rapid pace. To that end, he continues to make extensive use of social media, virtual meetings and even a virtual interview process that he uses to hire candidates from all over the world.
9. He also uses business to create conversations about culture
One of the biggest mainstays about his business is that he uses it to create a type of cultural enhancement. Since he has employees from all over the world, it's easy to create those types of cultural conversations that can only exist when you have people from all different cultures and backgrounds in the same arena. Even when everyone can't be in the same geographic location, he finds innovative ways to bring everyone together so that all of his employees have the opportunity to learn from one another. In this way, he is making his own contributions to improving cultural understanding on all fronts.
10. People from the insurance industry are getting on board
There is no doubt that Jawish has completely transformed the insurance industry. As such, people that have routinely worked in that industry for decades have jumped ship and gotten on board with his company because they see how innovative he is in everything that he does. It's not just about reducing the amount of money that insurers spend on fraudulent claims. The bigger picture involves learning to bring everyone together for something greater than themselves and it's something that people are getting very excited about. Jawish has never been about doing things the same way they’ve always been done. That’s one of the things that attracts employees and customers alike to his business.
Written by Allen Lee
Read more posts by Allen Lee