Austrian insurance firm HDI Versicherung has integrated the FRISS solution to streamline the claims process and meet compliance requirements.
Prior to FRISS, HDI handled its fraudulent claims investigations through a small team. Suspicious claims were sent to them after a manual detection process.
The insurer wanted to improve this and is using FRISS to combine AI, network analysis, predictive models and text mining with expert knowledge.
The FRISS solution is integrated with HDI’s infrastructure and offers an easy way of screening claims and offering actionable insights.
HDI Austria’s deputy head of P&C claims Hugo Martinshausen said, “In my view from claims management, FRISS is that fraud detection program we need to increase our development of new features as white box processing with a strong helping hand avoiding fraud.”
FRISS has formed a number of partnerships in the past year. The company recently inked a deal with German insurer DEVK, to help the insurance firm better protect its customers and identify fraudulent claims.
The InsurTech also formed a deal with US property and casualty insurer EMC Insurance Companies, earlier this year.
FRISS senior project manager Olcay Krandaoglu said, “The cooperation with HDI was outstanding.
“I really liked the way that from the first moment on we worked together as partners. Due to the fact that we had to run two parallel implementations, smooth communication was of vital importance. I’m happy to be contributing to the success of HDI and look forward to be working with them with on projects in the near future.”
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