Prevent rather than cure by aligning preventive risk management and fraud detection.
INTERAMERICAN, part of Achmea, is a leading insurer in the Greek non-life market. The company has a very strong brand and is well known for the progressive and innovative way of working in the non-life insurance industry. INTERAMERICAN’s vision is to become the first Greek digital insurer in 2020.
Panos Kouvalis (Motor Underwriting Manager at INTERAMERICAN) states: ‘’Despite our big motor portfolio, which is close to 600.000 vehicles, we have a very small underwriting team. The main objective of the underwriting department is to prevent specific and high risks from entering the motor portfolio.’’
“Our target is to make sure that high risks and fraud cannot enter our books. We want to have an integrated solution both for motor underwriting and claims, based on a user-friendly technology”
It is important for INTERAMERICAN that Motor Underwriting and Motor Claims learn from each other, work together, combine their reviews and find the important areas for fraud detection.
“An important outcome for INTERAMERICAN is the significant increase in the fraud detection awareness in all important departments”
During the first period after implementation, the percentage of suspicious policies (based on the FRISS Score) is between 3 and 3.5 %, for which an evaluation takes place. 5 to 10% of these policies require an active follow-up.