CA-FRISS
28.7.2021 13:02:09 CEST | Business Wire | Press release
FRISS , the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide, today announced it closed a $65 million Series B funding round led by Accel-KKR , advised by FT Partners and endorsed by existing investor, Aquiline . The funding will fuel the company’s rapid growth with additional product innovations, deep market penetration and lines of business expansions. FRISS serves insurers in over forty countries today, and is well on track to deliver over $2 billion in fraud savings to insurers in 2021 alone.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210728005113/en/
Insurance fraud is a large and growing problem faced by insurance companies, with estimates of fraud in as much as 10-17% of total claims paid annually – a staggering $80 billion annual loss in the US insurance market alone1 .
1 Coalition Against Insurance Fraud
Built by experts with over 1,000 years of collective experience in the insurance industry, FRISS’ AI-driven fraud and risk detection software is a globally recognized leader in helping insurers reduce loss ratios and increase operation efficiency, ultimately leading to stronger bottom lines, more productive teams and happier customers. FRISS offers real-time end-to-end P&C insurance fraud analytics solutions that cover the complete policy lifecycle - from automated underwriting risk assessment to fraud detection during claims and comprehensive case management. The alerts are displayed via seamless integrations with core systems such as Guidewire , Duck Creek , Sapiens , Keylane and can pull additional information from a multitude of available data points, creating an holistic view of the risks attached to each policy request, renewal or claim.
Jeroen Morrenhof , CEO and Co-Founder of FRISS said, “We’ve been around for 15 years and completed over 200 implementations. With an experienced software investor such as Accel-KKR and all the knowledge that we’ve gained from our presence in the industry, FRISS is ready to scale exponentially through our Series B, taking our mission of accelerating safe digital transformation throughout the policy lifecycle to the next level, bringing every member of the FRISS family along with us for the ride to honest insurance.”
“We recognize that the insurance industry is tackling challenges on many fronts including cost pressures, the need for efficiency and automation, and ever-rising customer expectations for personalized service at speed,” adds CTO and co-founder Christian van Leeuwen . “FRISS solves these challenges by tapping into the power of digital transformation and leveraging sophisticated AI to automate complex workflows at scale, shine a harsh light on risks at both underwriting and claims, while simultaneously elevate and improve the processes for carriers’ employees and their customers.”
FRISS is jointly headquartered in Utrecht, the Netherlands and Mason, OH with regional offices in the DACH and LatAm regions, UK, France and Spain. The funding will support continued expansions in these markets and beyond and drive additional growth in the current customer base through new product offerings, powered by next generation artificial intelligence.
“Insurance fraud is a massive problem that is increasing in a digital world, and FRISS delivers a differentiated solution by pairing cutting-edge technology and a rich data ecosystem with years of deep industry knowledge and a strong understanding of the customer’s needs,” said Joe Porten , Principal at Accel-KKR and incoming board member at FRISS. “Accel-KKR has a strong track record in partnering with great entrepreneurs to accelerate growth and create market-leading technology companies. We are excited to support FRISS in the company’s next phase of growth.”
About FRISS :
FRISS is 100% focused on automated fraud and risk detection for P&C insurance companies worldwide. Their AI-powered detection solutions for underwriting, claims, and SIU have helped 200+ insurers grow their business. FRISS detects fraud, mitigates risk, and supports digital transformation. Insurers go live within 4 months, realize up to 10 times ROI and an 80% increase in straight-through-processing of policy application and claims. FRISS solutions help lower loss ratios, enable profitable portfolio growth, and improve the customer experience. For more information, please visit www.friss.com .
About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc . named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005113/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xylem Releases 2025 Sustainability Report12.5.2026 13:00:00 CEST | Press release
Highlights Measurable Progress on Global Water Challenges As global water challenges intensify, efficient and resilient water management is more critical than ever. Xylem (NYSE: XYL), a leader in global water solutions, has released its 2025 Sustainability Report, demonstrating how customer-driven innovation is transforming sustainability commitments into measurable performance outcomes for communities and the environment. Performance Highlights20 million people reached with access to clean water, sanitation, and hygiene since 2019 15% decrease in injury rate to 0.44 81% employee volunteer participation in 2025, up from 76% in 2023 16% reduction in Scope 1 and 2 (market-based) greenhouse gas emissions since 2023, progressing toward a 42% reduction target by 2030 15% improvement in water efficiency since 2023, progressing toward a 30% reduction goal by 2030 Xylem is globally recognized for sustainability, earning a place on the CDP Climate Change A List, recognition as one of TIME’s 10
GenNx360 Capital Partners Completes Sale of Precision Aviation Group to VSE Corporation for Approximately $2.025 Billion in Cash and Equity.12.5.2026 13:00:00 CEST | Press release
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm, has announced the sale of its portfolio company, Precision Aviation Group, Inc. (“PAG” or the “Company”), to VSE Corporation (“VSE”) for a total upfront consideration of approximately $2.025 billion in cash and equity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260512000455/en/ Founded in 1996 and headquartered in Atlanta, Georgia, PAG is a best-in-class global provider of aviation maintenance, repair and overhaul (“MRO”) services, distribution and supply chain solutions serving commercial, business and general aviation, rotorcraft and defense end markets. PAG currently operates 29 locations worldwide, employs more than 1,000 people, serves over 10,000 customers globally and completes more than 175,000 repairs annually. The acquisition increases VSE revenue by approximately 50% on a pro forma 2025 basis and is expected to be immediately accreti
Glooko and mylife Diabetes Care Expand Diabetes Data Management Partnership12.5.2026 13:00:00 CEST | Press release
Latest agreement supports connected diabetes data management for people using mylife Loop powered by CamAPS FX, as well as their healthcare teams Glooko, Inc. and mylife Diabetes Care today announced an agreement to further expand their partnership, under which Glooko will serve as mylife Diabetes Care’s primary data management platform for mylife products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260512745029/en/ This next step builds on the strong, well-established collaboration between the two companies, ensuring continuity in the way healthcare professionals and patients access data from mylife products, including mylife Loop, an automated insulin delivery (AID) solution powered by mylife CamAPS FX from CamDiab. It also strengthens the shared commitment of both companies to supporting day-to-day clinical practice and improving outcomes. “Diabetes care is increasingly connected, and data management is one of the mos
Telekom Srbija Raises €1.95 Billion Through Landmark Eurobond Transaction, Attracting Record Demand from Global Investors12.5.2026 12:09:00 CEST | Press release
The largest corporate bond issuance from the region attracted nearly USD 14 billion in demand from around 300 global institutional investors, marking a milestone moment for Southeast European capital markets. Telekom Srbija has successfully completed its second international corporate bond issuance, raising approximately €1.95 billion through a multi-tranche offering of senior unsecured notes denominated in U.S. dollars and euros. The transaction generated exceptional investor interest, attracting total demand of USD 13.87 billion from approximately 300 leading international institutional investors, making it the largest corporate bond issuance ever executed in the Southeast / Central and Eastern Europe region, as well as one of the most heavily oversubscribed corporate transactions across emerging markets globally during 2025 and 2026. The issuance attracted participation from many of the world’s most prominent pension funds, insurance companies, sovereign-affiliated investors, and gl
Venture Global Announces LNG Purchase Agreements with TotalEnergies and Vitol12.5.2026 12:00:00 CEST | Press release
Today, Venture Global, Inc. (NYSE: VG) announced the execution of two binding agreements with TotalEnergies and Vitol for the purchase of additional U.S. liquefied natural gas (LNG) from Venture Global. Venture Global announced a new, binding agreement with TotalEnergies for the purchase of approximately 0.85 MTPA of LNG from Venture Global for approximately five years commencing in 2026. Separately, Venture Global and Vitol agreed to increase their existing five-year binding LNG agreement to 1.7 MTPA, up from 1.5 MTPA previously agreed and announced in March 2026. Both agreements will be supplied from Venture Global’s portfolio. “Venture Global is proud to deepen our partnerships with premier global energy companies like Vitol and TotalEnergies,” said Venture Global CEO Mike Sabel. “These agreements reflect the continued confidence and trust in our ability to deliver reliable, low-cost U.S. LNG to global markets quickly and at scale as demand for energy security continues to grow. By
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom