Celent provides FRISS with Luminary capability designation
Oct 24, 2022
Celent's Insurance Fraud Detection Solutions: 2022 P&C Insurance Edition recognizes the FRISS Trust Automation solution with the highest distinction possible.
FRISS, the leading P&C solution provider for garnering instant trust insights, offers an all-encompassing product line for insurers throughout the policy lifecycle, from Underwriting to Investigations. Their innovative solution designed to automate trust, and prevent fraud during claims screenings, has been designated by Celent, as part of a leading group of providers, referred to as "Luminary" on the Technical Capability Matrix for P&C.
Using internal and external data sources, fraud models, indicators, and the power of human feedback, FRISS generates a score that carriers can use to verify the trustworthiness of each party involved in a claim. Based on next-generation technology, FRISS' Trust Automation Solution gives insurers an unparalleled asset when it comes to information authentication and data collection. From the initial quote, to the first notice of loss, and conclusion of an investigation, FRISS has carriers covered through it all.
"It is fantastic to see Celent acknowledge our mission to support insurers with solutions that help them facilitate daily operations," says Marieke Saeij, CPTO at FRISS. "In the world we live in today, customer loyalty is awarded to those who can provide swift responses to customer interactions. By automating trust throughout their processes, insurers can make sure that honest customers (the vast majority in any book of business) can receive the level of customer service they deserve and desire."
"Insurers are constantly looking at improving their processes and empowering employees with tools that make them more efficient. If they shift to products designed for trust automation, it prevents employees from being stuck meandering through error-prone, manual tasks, and instead allows them to re-focus on what the industry should be all about in the first place: the customer," adds Christian van Leeuwen, FRISS CSO and Co-Founder.
According to Celent, leveraging claims fraud detection solutions has a variety of business benefits. Primary goals are seen as, improving the insurer's loss ratio by identifying illegitimate claims, and the ability to enhance the overall customer experience by giving providers the confidence to quickly indemnify claims that are deemed valid. The full Celent Insurance Fraud Detection Solutions: 2022 P&C Insurance Edition can be downloaded at: https://www.celent.com/insights/660400078