EVRY and FRISS are proud to announce their partnership in the Nordic region. Together, they deliver an innovative fraud prevention and detection solution for the Nordic insurance industry. This partnership strengthens EVRY’s position as a leading solution provider to the insurance industry, and will further expand the FRISS footprint in the region.
State-of-the-art fraud detection
Insurance fraud is a major problem for the financial industry and for society. Insurers face several challenges in effectively responding to fraud, such as resource intensive operation, low prediction capabilities and static rule engines, and limited real-time access to relevant external data. This is particularly challenging for small and medium size insurers.
EVRY and FRISS aim at delivering a game-changing industry solution: fraud detection as a service, combining the extensive fraud prevention and detection capabilities within EVRY with the insurance specific solutions and expertise from FRISS. This solution will enable, in particular, the smaller and medium size insurers to strengthen their fraud prevention and detection capabilities, and at the same time leverage the fraud fighting capabilities for the entire industry. For the larger insurers, the EVRY-FRISS solution provides a state-of-the-art customized approach.
Honest and fair insurance premiums should be available for everyone. FRISS believes that society should not suffer from fraudulent behavior. Together with EVRY, FRISS will help insurers to effectively respond to fraud and improve their combined ratio. All in all, the solution enables profitable portfolio growth by real-time fraud detection and risk assessment.
Enabling the paradigm shift
Marc Mulder, CCO at FRISS says: “The position of our innovative and future oriented solution for insurance fraud prevention and detection in the Nordic region is further strengthened with EVRY. Our forces are combined in the fraud detection as a service solution. It opens up the market to reach more insurers, fight more fraud and helps to deliver fair premiums to the insured.”
Rune Kilstad, Head of the Insurance Market Unit at EVRY, says “New technology and digitalization is forcing the insurance industry to transform their way of thinking, and their way of doing business. EVRY aims at being a significant enabler for this paradigm shift, and we believe that the EVRY-FRISS industry solution, fraud detection as a service, will be an important step.”