Friss and Legentic announce a partnership to fight insurance fraud. The partnership seamlessly integrates Legentic’s Mohawk Fraud Detection real-time and historic data into FRISS’s end-to-end software solutions.
Through Legentic’s easily accessible big data and actionable insights, FRISS’s powerful self-learning AI models will be able to detect fraud even faster, reducing false positives and uncovering fraudulent behavior. This partnership will also directly affect the insured by massively reducing the claim waiting time.
“Working with a partner like Legentic allows FRISS customers to be more effective at the moment. Thanks to the accurate and real-time data Legentic adds to our solutions, insurers can make real-time decisions at the moment they matter,” says Jeroen Morrenhof, FRISS CEO and co-founder. “The ability to operationalize Legentic’s expert insights into the FRISS risk analysis will benefit both the insurance company and their customers, which in the end is what we all strive for.”
FRISS’s mission is to make insurance more honest by stopping fraudsters before they harm sincere customers. The FRISS platform offers end-to-end support through the full policy lifecycle. Their underwriting solutions, claims, and special investigations are fueled by an instant-on combination of powerful AI, text mining, image analytics, geolocation, predictive models, fraud schemes, and numerous internal and external data sources. This ensures a holistic view of risks for each policy request, renewal, or claim while staying fully compliant throughout the process. The Legentic data adds a wealth of knowledge to understand better the risks exposed to the insurer.
“Our partnership with FRISS helps us make the insurance industry safer for all insurers. Through our real-time data, FRISS will use our insights to help catch fraudulent claims more effectively and efficiently,” explains Espen Fjeldberg, Legentic CEO. “Our ability to turn big data into crucial insights integrated into FRISS risk analysis will help create a dent in the insurance fraud-fighting scene.”