The insurance industry is going through difficult times. In many European countries the average combined ratios are over 100% for several years, demonstrating a need to better master the fundamentals of insurance. The challenge is to seek profitable growth by setting underwriting rules, dynamic and individual pricing, increase claim processing efficiencies and more while maintaining regulatory compliance across all lines of insurance business.

FRISS is able to reduce the combined ratio up to 5% by delivering insight in fraud, risk and compliance provided by our Insurance Solutions.

Fraud

Identify insurance fraud as early in the process as possible. Fraud detection is available across all business processes like underwriting, policy amendments and claims. Reduce loss by better prevent and detect fraud.

Risk

Get a clearer picture of the risks you are facing with your applicant and policyholder. Based on these insights insurers are better capable of safeguarding combined ratio, maximizing profitable growth and subsequently reducing time spent on underwriting activities. Portfolio value analysis enables your company to identify and reduce loss in the portfolio by better understanding the risk in your portfolio and how to cope with them in underwriting, investigation and by incorporating risk based pricing.

Compliance

Easy compliance with less effort and lower costs. The insurance industry is constantly facing new regulations, which can be very costly for your business. With FRISS Compliance Solutions you will Know Your Customer and be compliant with the latest regulations.