Global provider of AI-based fraud analytics welcomed 43 new insurers, acquired Terrene Labs and landed a $65m Series B
According to Globes, plummeting share prices for insurtech companies tell a tale of disappointment. So, it speaks volumes that FRISS was able to grow significantly alongside insurers and partners in the insurance ecosystem who hold the same vision: to keep honest customers safe and happy.
“We saw record breaking expansion this past year, both in the regions we serve and in the number of insurance companies we welcomed; that put trust in our company and solutions,” says FRISS CEO and co-founder, Jeroen Morrenhof. “Along with that, across the board we grew over 20% with current customers, which is a testament to the value we deliver to them.”
Last year’s industry focus was on protecting businesses, and this year was all about revitalization. Through the many hurdles of recovery, FRISS celebrated many exciting developments, including but not limited to:
- Adding 43 new insurance companies to the FRISS family
- Expanding into 5 new countries: Spain, France, Brazil, Uruguay and New Zealand
- Kicking off the APAC entity of FRISS
- Acquiring Terrene Labs, now FRISS Underwriting Insights, growing both their team, presence and product offering in the United States
- Raising a $65 million Series B funding with Accel-KKR
- An investment from long-time partner Guidewire, recognizing the important role FRISS plays in their ecosystem and the vital part of FRISS’s seamless integrations in these
Recognizing these milestones, FRISS was acknowledged by Fintech Global in their 2021 InsurTech100. Also DIA recognized FRISS as one of the most impressive, inspiring and impactful insurtechs worldwide: “Companies like FRISS are the key example of how insurers can benefit from digital ways of working,” the founders of Digital Insurance Agenda noted in their report. “FRISS can help and redefine the way insurance companies, on a global scale, manage fraud and related risks, using the latest developments in artificial intelligence, data analysis and insurance scoring.”
“Our whole company is enthusiastic about our mission in this world and that’s why we’ve been successful for the past decade and a half,” says CSO and co-founder Christian van Leeuwen. “With transparency comes trust, and our customers know that. We’re still committed to being the frontrunners of the insurtech revolution, and delivering the best end-to-end protection throughout the full policy lifecycle.”
With 250+ global implementations in more than 40 countries, a trusted advisor status with 1,000+ years of combined industry experience and unparalleled end-to-end offerings, in 2022 FRISS will continue to solidify their position as an industry leader.