FRISS Raises $65 Million Series B Funding Led By Accel-KKR

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Discover our Global Footprint of 200+ Implementations.

Seguros El Águila

“The speed at which we’re able to detect fraud with FRISS is beneficial not only for identifying and following the path of fraud, but it’s great for honest insureds too. Payment processes are significantly faster."

  • Reduction in false positives
  • Time savings
  • Implemented fast-track processing

SURA Colombia

“Thanks to the FRISS solution, SURA Colombia will now be able to rapidly take care of claims that do not show signs of fraud. This will benefit not only our company, but also, and more importantly, our clients."

  • Enable high quality service in real time
  • Seamless integration in the core system
  • Direct access to external data sources

Tier 2 US P&C Carrier

Time savings increase by roughly 90% and risk set goes down from two hours turn-around time to minutes with Underwriting Insights!

  • Automated Data Ingestion
  • Manage multiple, disparate and growing Big Data sources
  • Trigger Underwriting Insights using ACORD data

Tier 1 US Carrier

Underwriting Efficiency improves by more than 50% with Underwriting Insights

  • Manage multiple, disparate and growing Big Data sources
  • Incorporate understanding of the risk from structured and unstructured data content
  • Provide a comprehensive risk profile

Meridional Seguros

Modernization of the core system while starting the fight against fraud.

  • Fast track claims
  • Leverage data mining
  • Unlock the potential of predictive analysis

Beequip

“Beequip’s motto is ‘equipment first, numbers second. With the assistance of FRISS, we can really live up to this."

  • STP Acceptance in 25% of the cases
  • More efficient and structured KYC process
  • Use of Web-IQ accelerates online investigation

RISK

Automated underwriting requires automated fraud detection.

  • STP underwriting process
  • "Touchless Trust" with compliance by default
  • Higher efficiency, time savings and customer satisfaction

Allianz Direct Benelux

Full STP process for policy applications and automatic exclusion of defaulters

  • The majority of applications are automatically accepted
  • Reducing defaulters and risky customers
  • Faster and more efficient underwriting process

Malta Insurance Association

MIA's request: "How can insurers work together to prevent and fight fraud?"

  • Benchmark for success rates of fraud cases
  • Compliant to law and regulations
  • Fraud network uncovered

INTERAMERICAN

“Our target is to make sure that high risks and fraud cannot enter our books.”

  • Significant increase in the fraud detection awareness
  • The solution was implemented quite smoothly.
  • Integrated solution both for motor underwriting and claims

UNIQA

Award winning Strategic Group P&C Anti-Fraud Initiative, powered by FRISS

  • Increase in fraud savings of $21 million
  • Quick FRISS implementations with instant ROI
  • Enabled claims segmentation to better serve sincere clients

Allianz Benelux

Allianz is extremely active in fraud prevention. Under their “zero tolerance” motto, fraud specialists can be found throughout the organization.

  • Reducing operational costs
  • Optimizing fraud investigations
  • Zero Tolerance in action

InShared

How do you build a profitable portfolio as a 100% online insurer?

  • Know Your Customer with automated Risk Assessment
  • Attract the right customers
  • Continuously optimized algorithms

El Roble

“With FRISS, we are breaking down the paradigm that claims processes cannot be automated.”

  • From Kick-Off to Go-Live in only 6 months
  • 67% time savings at claim handling
  • Reduced administrative costs

Anadolu Sigorta

Anadolu Sigorta had a challenge with detecting fraudulent claims in the claims department. The results:

  • Extra cost savings of 5 million Euro within 1 year
  • Process efficiency from 15 days to 2.3 seconds
  • ROI of 210% within 1 year

Folksam

One of the largest insurers in Sweden fights fraud more effectively in both the claims and investigation process.

  • 20% more fraud investigations
  • FRISS Solution designed to specifically address the unique needs of insurance businesses

Signal Iduna

One of the largest insurers in Germany fights fraud more effectively in both the claims and investigation process

  • More effective fraud investigations
  • Implementation within 6 months
  • Hybrid model with Internal & external data models

Profitable Insurance with FRISS.

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