FRISS, the insurtech provider of AI-powered anti-fraud solutions for the P&C insurance industry, has extended its partnership with Munich Re to now support insurers in their fight against fraud.
Following their successful cooperation in Latin America and Iberia, the partnership has now been extended globally.
Utrecht, Netherlands-based FRISS provides a combination of AI, predictive models, network analysis, text mining and over 600 out-of-the-box risk and fraud indicators. These solutions are used by insurers for real-time risk assessment for underwriting and fraud detection for claims.
Munich Re will offer these services as part of its consultative portfolio to bring value to the customer beyond traditional reinsurance services.
Munich Re and FRISS will combine industry best practices and come up with practical solutions to help develop and improve business. Insurers will benefit from more efficient operations and fast-track customer service, which increases the customer satisfaction and experience.
“Many of our insurance clients see the need to increase efficiencies, reduce claims costs and improve their competitive edge by an increased use of automation,” said Joachim Mathe, head of Munich Re’s Global Consulting.
“To take full advantage of these new opportunities, insurers must arm themselves with relevant digital and data analytics competency including a modern IT system supporting such competences,” he added.
“I’m extremely happy with the extension of our partnership with Munich Re. This is a confirmation of trust after our fruitful cooperation we have had for years in Latin America and Iberia,” commented Ariane Braam-Verkoren, SVP Global Alliances at FRISS.
“As an established insurtech, FRISS helps insurers to transform their business. Together with Munich Re we can enable the digital transformation of our clients even better,” Braam-Verkoren added. “We will globally work on making insurance more honest.”
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