Peruvian insurer Pacífico Seguros selected FRISS, the global provider of fraud and risk software solutions for the P&C insurance industry, to automate their claims fraud analytics processes.
Pacífico Peru is a leading insurer in the Latin American region. In a market with increasingly demanding customers, their strength is to adapt to new standards, an essential characteristic to achieve the sustainability of a company that, for 70 years, defined the objective of accompanying its clients at every moment of their life.
The automation of claims fraud analytics is the next step in the process of digital transformation at Pacífico. Their aim is to lower the loss ratio by being able to better detect fraud before claims are paid. At the same time, the project will increase customer satisfaction because sincere clients can be put on a fast lane.
After carefully evaluating various software solutions in the market, Pacífico selected FRISS because the company combines state of the art artificial intelligence (AI) with expert insurance knowledge. Their value was proven by a solid business case and reference visits to other international FRISS customers.
Ariane Braam-Verkoren, Global Alliance Manager at FRISS: “I’m proud that Pacífico is the first insurer in Peru to select FRISS. Their innovative insurance approach matches perfectly with our vision on how to keep up with the demanding and ever-changing market. Thanks to the cooperation with strategic partners Munich Re and Guidewire, the impact of this project will only increase.”
“It is fantastic to see that Pacífico can now assist their clients even better with insurance. The ability to automatically identify and separate the good from the bad claims with advanced analytics will increase the level of service and helps in making Peruvian insurance more honest,” said Iván Ballón, Business Manager Latin America & Iberian countries at FRISS.
FRISS will support Pacífico in reaching their goals in the digital journey from their Latin American headquarters in Santiago de Chile.