ILC ARTICLE

FRISS announced as new ILC Motor Corporate Partner

14th January 2019

FRISS becomes a new ILC Motor Corporate Partner

We’re pleased to announce that we have a new Corporate Partner. FRISS helps P&C insurance companies to detect fraud during the claims process and assess risks during the underwriting process. Their mission is “honest insurance”.

They want to help insurers to improve the combined ratio, lower costs and enhance the customer experience. For policyholders, this results in fair premiums and a fast track process for their claims.

FRISS has built a track record over the last 12 years in more than 35 countries and recently opened offices in Chicago (USA), Cologne (Germany) and Paris (France).

With over 150 implementations their FRISS Score is the proven risk standard. This score is a simplified way to indicate whether a claim or applicant has a low or high risk. The score is shown as a traffic light, green being no or low risk, red meaning high risk. Based on this score, follow-up actions can be defined. A green score in claims can mean a direct pay-out. With a red score, the claim can be forwarded for investigation by the Special Investigation Unit.

George Herber, Business Developer at FRISS:

“One of the great strengths of FRISS is to make use of external data providers in the risk scoring process. With the high maturity in the UK market regarding data availability, FRISS expects to make a difference for P&C insurance companies to improve their claims and underwriting process. Lowering risks during the application process and improving the claims process by finding more fraud, lower costs and support STP initiatives. Especially with the inquiries we have received in the past months, we feel the UK is ready to fight fraud with our AI-powered solutions. We therefore look forward to working with ILC and meeting with UK insurers at the various ILC events this year. Together we really can make insurance more honest.”

Chris Ashworth, Chairman & Founder of ILC, said:

“It’s wonderful to have FRISS on board as one of our valued Motor Corporate Partners. Their breadth of experience within the fraud and risk detection field will be particularly advantageous for those attending our motor conferences and networking lunches. I know the ILC community will benefit from this great partnership.”

At ILC conferences and events, Corporate Partners take advantage of a wide range of sponsorship opportunities to build brand awareness and recognition.

FRISS joins 12 other ILC Motor Corporate Partners. These include Autoglass, ControlExpert, GT Motive, SureTrak , Carpenters and ThingCo.

For more information on becoming an ILC Motor Corporate Partner, please contact Rachael Hunt (rachael@iloveclaims.com)