FRISS is 100% focused on automated fraud and risk detection for P&C insurance companies worldwide. Their AI-powered detection solutions for underwriting, claims and SIU help 175+ insurers grow their business. FRISS detects fraud, mitigates risks and supports digital transformation. Insurers go live within 4 months, realize up to 10 times ROI and 80% increase in straight through processing of policy application and claims. FRISS solutions help lower loss ratios, enable profitable portfolio growth, and improve the customer experience. For more information, please visit www.friss.com
History has proven that times of economic crisis see a huge increase in insurance fraud across most lines of business. This content provides some specific examples of insurance fraud which are on the rise and how insurers can make use of advanced analytics to stay one step ahead of fraudsters.
In our fast-moving world, insurance customers demand real-time decisions. With automation and digitisation firmly on the agenda for insurers, this content highlights why investments in real-time risk assessment and fraud detection are required to modernise underwriting and claims processes.
This case study sheds light on how the Malta Insurance Association collaborated with FRISS to provide its members with a platform to share knowledge, potential fraud incidents and claims history. The platform’s adoption also resulted in a major fraud network being uncovered.
UNIQA Group is one of the leading insurance groups in Austria and Central and Eastern Europe. This case study looks at how UNIQA Group leveraged the FRISS Solution for automated claims fraud detection to achieve total fraud savings of €18.4 million within the first two years of being live.
Following enormous customer growth, Allianz Direct also experienced an increased number of defaulters. This case study focuses on how Allianz Direct worked with FRISS to improve its underwriting process by automatically screening applications to segment unwanted customers from desired customers.
In this content, Wouter Joosse, product manager at FRISS focuses on how insurers can leverage authorised media such as photo and video materials in the claims handling process in order to prevent fraud, save costs and speed up the process.
How the coronavirus pandemic impacted the insurance industry in both predictable and unexpected ways
Several months in, we can start to see how the coronavirus pandemic has affected the insurance industry and our customers. This content sheds light on claims trends and new policy requests both during and after lockdown, as well as the factors driving a rise in suspected fraud.
Given the disparity in data gathered, is it any wonder that there is a migration of fraud from personal lines to the soft underbelly of commercial insurance? This content highlights how commercial insurers can better understand the ownership structures of organisations in order to combat fraud.
Now is the time for insurance companies to revolutionise their fraud analytics capabilities. Download this content to find out how insurers can leverage artificial intelligence to serve honest customers exceptionally fast, while instantaneously flagging bad risks for further investigation.
Covid-19 proved that data science models have their shortcomings and can be less than reliable when deviations occur. In this content, Richard Bakker, head of data science for FRISS highlights the actions the business has taken to ensure its fraud fighting models are reaching optimal performance.