Sapiens has partnered with FRISS, an AI-powered fraud and risk management tool for P/C insurers. FRISS analyses policy applications, renewals, quotations and claims for high risks, fraud and compliance. An automated risk assessment helps carriers speed up the onboarding process and reduces friction during claims payments.
“Fraud has a profound, negative impact on the insurance industry, with about ten percent of incurred losses paying for illegitimate claims,” says co-founder and CEO of FRISS, Jeroen Morrenhof.
“Our goal is to make insurance more honest. This is achieved not only by fighting fraud effectively, but also by preventing fraudsters from entering a carriers’ book of business and making sure that honest customers get the ultimate customer experience. Partnering with Sapiens was a natural decision for us, as it will enable us to shape the future of honest insurance.”
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