Fraud and risk solution developer FRISS has deployed its AI-powered solution onto the Guidewire Marketplace.
Guidewire is an insurance solution developer which offers a variety of products including policy, billing and claim management, predictive analytics, risk management, and more.
The company also operates the Guidewire PartnerConnect Solution which is a global network of companies which provide consulting services and solutions to enhance its own offering. The FRISS solution was built through this with the Guidewire DevConnect service.
In the US, the cost of insurance fraud is over $40bn each year, the company claims.
The FRISS service enables insurers to automatically check claims for potential fraud and risks at multiple stages of the claim workflow in Guidewire ClaimCenter. The scoring results, which include actionable insights, are available to claims adjustors directly within ClaimCenter.
Bas de Graaf global partner manager FRISS said, “This add-on supports both operational excellence and digitalization within the claims process, making processes more efficient without losing the necessary controls. Like Guidewire, FRISS has a singular focus on P&C insurance. The combination of a proven core platform provider like Guidewire and an InsurTech like FRISS offers insurers the best of both worlds.”
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