FRISS, a Netherlands-based provider of fraud, risk and compliance products and services for property/casualty insurance carriers, has acquired Terrene Labs, headquartered in Mason, Ohio.
Terrene helps commercial underwriters to instantly understand the risk of every policy by gathering, verifying, combining and augmenting thousands of data sources. According to the acquisition announcement, commercial lines underwriters now have access to thousands of actionable insights within five seconds, replacing a disjointed manual and limited enrichment process that previously took up to a week and delayed policies for quality customers.
Terrene products will join the FRISS product suite as Underwriting Insights. It will be available immediately as a standalone product and will soon integrate with the end-to-end solutions already offered by FRISS.
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