Anadolu Sigorta: “Within 12 months after going live with FRISS, we already reached a 210% ROI by automating the fraud analytics process.”
Anadolu Sigorta is market leader. We have 3.5 million customers and last year we produced more than 1 billion euro premium income.
Our mission is to create broad insurance awareness and to keep our Turkish people from losses, with our claims experience.
We have around 25.000 to 30.000 claim files per month. This is a very big load. We have 50 claim handlers who take care of the processing of these claim files.
Anadolu Sigorta had a challenge with detecting fraudulent claims in the claims department. 50 people had manual procedures to follow and the fraud detection process was mostly based on minor business rules and the experience of the users.
By 2015 the number of claims increased. So, we looked for an automated fraud system all over the world. We saw that the FRISS system was the best solution to meet our needs.
A completely automated system in a single platform helps us to outscore the fraud, makes it easier to analyze it and to give faster services to our clients.
The manual fraud scoring costed an average of 15 days. Now, with the automated fraud detection system we have a real-time scoring which can be followed-up by an immediate investigation.
The system integrated and interfaced with our core insurance systems flawlessly. The project was finished within 6 months from the kick-off date. It was completed within the budget and we also got the quality that we wanted. In 2017 we saved around 5 million euros thanks to automating the fraud analytics process and not paying out proven fraud cases. And finally, I personally believe that for the future there are lots of opportunities by using FRISS.