FRISS
7.10.2019 14:02:11 CEST | Business Wire | Press release
FRISS, the market leader in AI-powered fraud and risk solutions for the P&C insurance industry, today announced to have extended their partnership with Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions, to now globally support insurers in their fight against fraud.
Extension of the contract follows on the successful cooperation in Latin America and Iberia, where both parties work extensively together to fight fraud and mitigate risks at P&C insurers. The parties now agree to support insurance companies worldwide.
Munich Re’s Global Consulting Unit is driving transformative change in the insurance industry through the application of data science and digitalization. The unique FRISS solutions provide a fully integrated hybrid combination of powerful AI, predictive models, network analysis, and text mining and over 600 out-of-the-box risk and fraud indicators, that are used by insurers for real-time risk assessment at underwriting, fraud detection at claims and investigations at the special investigation unit. These will be part of Munich Re’s consultative portfolio to bring value to the customer besides traditional reinsurance services.
Munich Re and FRISS will combine industry best practices and come up with practical solutions to help develop and improve business. Insurers will benefit from more efficient operations and fast-track customer service, which increases the customer satisfaction and experience.
Joachim Mathe, Head of Munich Re’s Global Consulting, says: ”Many of our insurance clients see the need to increase efficiencies, reduce claims costs and improve their competitive edge by an increased use of automation. To take full advantage of these new opportunities, insurers must arm themselves with relevant digital and data analytics competency including a modern IT system supporting such competences. The combination of our strategy expertise and global player know-how with AI-powered fraud and risk solutions provided by FRISS, will help our clients make effective big picture decisions.”
Ariane Braam-Verkoren, SVP Global Alliances at FRISS, says: “I’m extremely happy with the extension of our partnership with Munich Re. This is a confirmation of trust after our fruitful cooperation we have had for years in Latin America and Iberia. As an established Insurtech, FRISS helps insurers to transform their business. Together with Munich Re we can enable the digital transformation of our clients even better. We will globally work on making insurance more honest.”
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 help 175+ insurers in more than 40 countries grow their business. FRISS detects fraud, mitigates risks and supports digital transformation. Insurers go live within 4 months, realize 10 times ROI and >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 Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2017 Atlantic hurricane season and to the California wildfires in 2018. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191007005437/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
NetApp Acquires DataPelago, Making Data AI-Ready at the Infrastructure Layer16.7.2026 18:30:00 CEST | Press release
Embedding GPU-accelerated intelligence enables enterprises to easily discover, govern, and activate data for AI and analytics at the source NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced it has acquired DataPelago, a California-based AI data infrastructure company recognized for its innovative approach to eliminating data processing bottlenecks for AI and analytics workloads. The acquisition marks a foundational expansion of NetApp's portfolio, enabling GPU-accelerated data processing aligned directly with the storage layer. With this acquisition, NetApp establishes itself as the company that makes zero-copy activation of enterprise data for AI real. AI is the defining platform shift of our era, but enterprises are discovering that their greatest bottleneck is preparing, governing, and activating their data fast enough to put AI into production. The key to accomplishing this objective is to enable accelerated computing where the data is created and
Visa Introduces Platform for Stablecoin Minting, Movement and Management16.7.2026 16:30:00 CEST | Press release
The Visa Stablecoin Platform gives financial institutions, fintechs and other payment providers a single environment to come onchain and run stablecoin operations with Visa. Today, Visa (NYSE: V) announced the Visa Stablecoin Platform (VSP), a new enterprise platform designed to help financial institutions, fintechs, and crypto natives access stablecoin capabilities through a single Visa-managed environment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260716292689/en/ Building on Visa’s broader crypto strategy, VSP gives FIs, fintechs and other payment providers a simple way to access, store, and redeem stablecoins, beginning with Open USD (OUSD), a new stablecoin recently introduced by Open Standard. This includes onchain wallet infrastructure through a newly introduced Wallet-as-a-Service offering and connectivity for minting and burning Open USD. “Stablecoins are opening up a new layer of programmable money, but for mo
Cyclic Materials Appoints Tomasz Poznar as Chief Commercial Officer to Accelerate Global Commercial Growth16.7.2026 15:20:00 CEST | Press release
Industry leader in critical materials and battery recycling to drive Cyclic’s global commercial growth and strategic partnerships. Cyclic Materials, the rare earth recycling company building a circular supply chain for rare earth elements and critical materials, today announced the appointment of Tomasz Poznar, Ph.D., as Chief Commercial Officer. The appointment strengthens Cyclic Materials’ executive team as the company accelerates commercial expansion across North America, Europe, and Asia. Most recently, Poznar served as Chief Commercial Officer at Ascend Elements, where he led the company’s global commercial strategy, strategic partnerships, and business development. During his tenure, he helped secure more than USD $1.5 billion in commercial agreements, including a landmark USD $1 billion supply agreement with a major global automaker, while also supporting approximately USD $320 million in TCTF government funding that accelerated the company’s growth in North America and Europe.
Modon Holding and Nammos Hotels & Resorts Bring Nammos Ras El Hekma to Egypt’s North Coast16.7.2026 14:50:00 CEST | Press release
Developed in partnership with Nammos Hotels & Resorts, the landmark Mediterranean destination will bring together branded residences, a luxury resort, restaurant and beach club, retail village, and signature dining and wellness experiences to Egypt for the first time. Abu Dhabi-based Modon Holding and Nammos Hotels & Resorts have announced Nammos Ras El Hekma – the renowned lifestyle and hospitality brand’s first fully integrated destination in Egypt. Located within the Wadi Yemm precinct, the development will bring Ras El Hekma’s promise of timeless Mediterranean living to life, combining Nammos Residences, Nammos Resort, Nammos Village, and a curated selection of all-day dining and wellness experiences, including the globally renowned Nammos Restaurant & Beach Club. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260716740934/en/ Modon Holding and Nammos Hotels & Resorts bring Nammos Ras El Hekma to Egypt’s North Coast (Pho
Tridiagonal.ai (T.AI) Partners with PETRONAS Carigali’s TriCipta AI with IBM to Advance Engineering Domain-Driven AI Solutions for Upstream Operations16.7.2026 14:30:00 CEST | Press release
Tridiagonal.ai will contribute engineering domain-driven AI solutions, physics-informed models and Decision Intelligence capabilities to support upstream surface equipment optimisation, maintenance reliability and asset integrity decision workflows. Tridiagonal.ai Pvt. Ltd. (T.AI), the dedicated AI arm of Tridiagonal Group, announced its role in the third Joint Development Agreement (JDA) involving PETRONAS Carigali Sdn. Bhd. and IBM Malaysia Sdn. Bhd. to advance PETRONAS Carigali’s flagship TriCipta AI across the Upstream value chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260715579933/en/ Signing ceremony for the third TriCipta AI Joint Development Agreement, attended by executives from Tridiagonal.ai (T.AI), PETRONAS Carigali, and IBM Malaysia. TriCipta AI is PETRONAS Carigali’s partnership model that combines deep domain technical expertise with advanced AI technology experts to accelerate the development and dep
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