Fraud is part of the business, all in the game. This is what Jeroen Morrenhof often heard when he was still working in the insurance sector. Insurers accept the losses that originate from fraud and eventually the genuine customer is presented the bill. That’s it. Morrenhof decided this could be changed and founded FRISS in 2006.
With advanced software he helps insurance companies to both minimize the risk on fraud, and to detect the fraud cases that still entered the portfolio. Morrenhof: “Why should customers pay for a problem that their insurer is not able to solve? That is the question we ask insurers. It is our mission to support honest insurance worldwide, enabling fair premiums.”
With sound results. Online insurer InShared used the money, that was saved by using the FRISS solution, to refund customers who had not filed any claims.
Germany became the first export country for FRISS. The need for fraud and risk management in Germany was and still is significant, knows Morrenhof. “However, this does not mean that you are automatically able to reach your target market as a foreign company.” With support of Gateway to Germany, which helps Dutch companies in exporting to Germany, FRISS was able to establish the right connections. “Our German partners gave us the credibility that we needed. Image, thoroughness, and reliability turned out to be crucial in convincing other German companies to do business with us. For a German, all that counts is a German reference.”
Once you have set foot on ground in Germany, you need to adapt. “When we deliver a project to a Dutch customer, we organize a workshop of two hours with about eight participants. When we deliver a project in Germany, we sit down for a full day with approximately 25 people. Everything must be covered in-depth, even if something possibly occurs once every 10.000 times. The German Gründlichkeit really exists.” FRISS is doing well, which might even be an understatement. One of the German customers is the Signal Iduna Group, which receives a gross written premium (GWP) of 5.5 billion euros from all related insurers. In 2015 FRISS was the fastest growing exporting software company in The Netherlands.
FRISS is active in over ten countries, amongst them: Turkey, Spain, Italy, Mexico, Brazil and Argentina.
THE EXPORTER’S ADVICE:
It’s not easy to actually make a difference in Germany. It takes patience and you need to get to the bottom of everything that is relevant to your business before taking action.
- Think German
The best possible way to learn to think German: recruit a German or multiple Germans. This is also a general rule of thumb; if you want to expand internationally you have to make your company more international.
- Act quickly
Do not wait too long before you start to expand your business internationally. It takes a while before you can actually get into business. So, when you see an opportunity, take it!
Every country has its (cultural) differences, so don’t be afraid to experiment with your product and see where it takes you. Produce, test, evaluate and improve were needed. Trial and error.
Search for a partner in the export country. If you manage find good one, you will see what doors such a partner can open. A partner can access territories for you, which you wouldn’t be able to access on your own.