CA-FRISS
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
Enginzyme and AGC Create Scalable Process for Key mRNA Ingredient12.1.2026 06:00:00 CET | Press release
At the mRNA Health conference in Berlin, enginzyme and AGC Inc. presented a scalable process to produce a key mRNA vaccine and therapy ingredient, N1-methylpseudouridine-5'-triphosphate (m¹ΨTP). The rapid growth of mRNA-based vaccines and therapeutics has driven significant demand for modified nucleotides like m¹ΨTP, which enhances mRNA stability and expression, while reducing immunogenicity. Enginzyme is a deep-tech company delivering optimized biomanufacturing solutions through cell-free enzyme engineering technology. AGC Inc. is a leading global player in fields spanning from architectural glass to chemicals and life science. AGC Inc. provides services in a wide range of life science fields, from synthetic pharmaceuticals and agrochemicals, to biopharmaceuticals and leading-edge cell and gene therapies, as well as messenger RNAs. The presentation in November detailed the latest collaboration between the companies, with a focus on the biomanufacturing of nucleotides for mRNA therapy,
Ant International Partners with Google’s Universal Commerce Protocol to Expand AI Capabilities12.1.2026 02:15:00 CET | Press release
Ant International, a leading global payment, digitisation, and financial technology provider, is collaborating on the launch of Google’s Universal Commerce Protocol (UCP), a new open standard for agentic commerce that works across the entire shopping journey — from discovery and buying to post-purchase support. UCP establishes a common language for agents and systems to operate together across consumer surfaces, businesses, and payment providers to enable commerce. So instead of requiring unique connections for every individual agent, UCP enables all agents to interact easily. UCP is built to work across verticals and is compatible with existing industry protocols like Agent2Agent (A2A), Agent Payments Protocol (AP2), and Model Context Protocol (MCP). “For agentic commerce to scale, it’s critical for the industry to align on a common set of standards. We are proud to have Ant International endorse the Universal Commerce Protocol as the foundation for that future,” said Ashish Gupta, VP
Torq Secures $140M Series D at $1.2B Valuation to Lead the AI SOC and Agentic AI Era11.1.2026 17:59:00 CET | Press release
Fueled by Massive Customer Adoption of AI Agents, Torq Scales the World’s First True AI SOC Platform and Accelerates Expansion into the U.S. Federal Market Torq, the established Agentic AI security operations pioneer, today announced it has closed a massive $140 million Series D funding round, propelling its valuation to $1.2 billion and total funding to $332M. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260112510774/en/ Led by Merlin Ventures—a leading cybersecurity fund renowned for its deep access to the U.S. commercial and Public Sector markets—with participation from all existing investors, including Evolution Equity Partners, Notable Capital, Bessemer Venture Partners, Insight Ventures Partners, and Greenfield Partners, this capital injection is a definitive investment in the future of security. Torq is driving the industry’s critical shift: the complete transformation of the Security Operations Center (SOC) through
Andersen udvider sine kompetencer med tilføjelsen af Scimitar9.1.2026 21:44:00 CET | Pressemeddelelse
Andersen Consulting har indgået en samarbejdsaftale med Scimitar, der er et firma med fokus på at accelerere innovation i biovidenskabsbranchen. Scimitar, der har hovedkvarter i USA, et førende konsulenthus inden for strategieksekvering for biovidenskabsbranchen. Virksomheden er specialiseret i design af driftsmodeller, digital transformation og organisatorisk forandring. Scimitar samarbejder med medicinal- og biotech-virksomheder om at accelerere innovation, styrke den driftsmæssige eksekvering og sikre compliance gennem hele produkters livscyklus. Deres praktiske og samarbejdsorienterede tilgang sikrer løsninger, der ikke blot er formålstjenlige, men også skalerbare. "Virksomheder inden for biovidenskabsbranchen befinder sig i en tid med hurtige videnskabelige fremskridt, stigende regulatorisk kompleksitet og et voksende behov for operationel agilitet, samtidig med at de holdes op mod de højeste standarder for patientsikkerhed og dataintegritet," udtaler Ramy Khalil, CEO i Scimitar.
Biocytogen and Acepodia Expand Collaboration Through Option-based Evaluation Framework for First-in-Class Bispecific and Dual-Payload ADCs (BsAD2C)9.1.2026 13:00:00 CET | Press release
Expanded collaboration builds on Acepodia and Biocytogen’s recent co-development efforts to evaluate selected bispecific antibody and dual-payload ADC programs Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315) and Acepodia (6976:TT), today announced that the companies have entered into an option and license agreement designed to enable the structured evaluation of bispecific antibody-drug conjugate (BsADC) programs to further advance the development of dual-payload bispecific antibody-drug conjugates (BsAD2Cs). The agreement grants Acepodia an option to obtain an exclusive worldwide license from Biocytogen for two BsADC programs. Under the terms of the agreement, Biocytogen is eligible to receive an upfront option fee and, upon Acepodia’s exercise of the option, additional payments including option exercise fees, development, regulatory, and commercial milestone payments, as well as royalties on future product sales. The financial terms of the agreem
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