IL-FRISS
Today, FRISS, the worldwide provider of AI powered fraud and risk solutions for the P&C insurance industry, released the “Digital Transformation in Insurance Survey 2018”. The survey was initiated to get a better understanding of the current market state, uncovering emerging global trends in P&C insurance regarding digital transformation. Over 170 insurance professionals participated, from various countries across the globe.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005072/en/
Digital transformation provides the insurance industry with the opportunity to use technology in order to improve efficiency, customer satisfaction and realize new strategic opportunities. These opportunities could create new services or business models and improved efficiency. Digitalization also opens doors to improve customer experience. However, digitalization can also result in additional risks and new emerging fraud schemes.
Key survey findings indicate:
- Insurtech is the engine of innovation. 88% of the insurers are convinced that insurtech offers great opportunities. While it is certainly possible to develop specific technology yourself, many companies like to use the expertise of specialized insurtech companies to support the digital transformation, for example for the development of mobile applications, machine learning, artificial intelligence , bots or blockchain , etc. The number of areas to be developed is extensive. The speed and complexity is mind boggling. Half of the insurers are now working on insurtech applications or conducting experiments with these applications. 19% are already investing in it. For insurtech, the question is whether to ‘make’ or ‘buy’. You can make it yourself, but can you also maintain it and innovate further? Cooperation in this area offers opportunities. 11% of insurers even consider buying insurtech companies to ensure continuity of maintenance and innovation.
- Use of Blockchain Technology is currently in an early development stage. Insurers have also heard of blockchain, but it is scarcely developed. 44% have no idea as yet whether or how blockchain could be useful. Those insurers who have considered it, think it might be useful to simplify transactions, facilitate the claim process or reduce fraud. 21% are thinking of trying it. Only 2% have actually started.
- Online distribution seems more difficult than envisaged. It seems logical and even necessary for insurers to switch to online distribution channels. Many establish online channels alongside traditional agents or advisers. Some only use online channels. Nevertheless, this development does not seem to be occurring as quickly as anticipated. 69% of insurers have some form of online distribution. A similar survey from 2016 showed that at that time it was 65%. This is an increase of only 4 percent point. However, 45% of insurers who do not yet have an online channel currently say they want to realize this in the coming year.
- Fighting fraud is easier with technology. As processes speed up in order to provide better and faster service to customers, it is logical to expect that the number of fraudsters or fraudulent claims that are not discovered by claims handling will also increase. It is possible to make the automated claims handling process fast and friendly for honest customers. At the same time, it is possible to simplify processes, reduce risks and prevent and detect more fraud . 32% of insurers now use technology for fraud prevention. 48% of insurers use it to determine the level of premiums and 45% use it to support underwriting.
Digital transformation as a motor
The digital transformation of the insurance industry is in full swing. The sector is very aware that this process is not something that is merely nice to have, but that it is increasingly the engine of the industry. However, not all developments seem to penetrate the entire sector as a matter of course and the pace is slower than expected. Companies leading the way therefore take a bigger lead and slower companies will have to make a big effort to avoid insurmountable technological backwardness.
The full report can be downloaded for free via this link .
About FRISS
FRISS has a 100% focus on automated fraud and risk detection for P&C insurance companies worldwide. The AI powered detection solutions for underwriting, claims and SIU helped 150+ insurers to grow their business. FRISS detects fraud, mitigates risks and supports digital transformation. Insurers go live within 6 months, with fixed price projects, and realize an ROI within 12 months. The solutions help to lower the loss ratio, enable profitable portfolio growth, and improve the customer experience. www.friss.com @FRISS_com
View source version on businesswire.com: https://www.businesswire.com/news/home/20180924005072/en/
Contact:
FRISS Ruud van Gerwen FRISS PR & Marketing Ruud.van.gerwen@friss.com
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
Binarly to Unveil “Broken Trust” Research: Firmware Bypass Chains, BMC Persistence, and EDR Evasion15.1.2026 23:04:00 CET | Press release
Binarly, the industry leader in software and firmware supply-chain security, today announced an upcoming DistrictCon presentation “Broken Trust: Firmware Bypass Chains, BMC Persistence, and EDR Evasion.” The session will detail how firmware-level attack chains observed in shipped enterprise devices can effectively undermine modern endpoint defenses, enabling stealthy compromise and long-lived persistence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115834965/en/ Binarly Unveils Broken Trust Research: Firmware Bypass, BMC Persistence In this presentation, the Binarly REsearch team will dismantle the assumption of hardware trust by presenting multiple real-world firmware bypass chains. Alex Matrosov and Fabio Pagani will provide a deep dive into the specific vulnerability classes and exploitation primitives that make these attacks reliable in practice. The team will also deliver a live demonstration compromising a fully
Coolbrook Named on the 2026 Global Cleantech 10015.1.2026 18:14:00 CET | Press release
Coolbrook, a transformational technology and engineering company on a mission to decarbonise major industrial sectors like petrochemicals and chemicals, iron and steel, aluminium, and cement, has been named on Cleantech Group’s 2026 Global Cleantech 100. This annual list recognizes companies poised to deliver market-ready solutions that advance a cleaner, more resilient global future. The report highlights innovators addressing some of the world’s most urgent environmental and infrastructure challenges. The complimentary report introduces you to innovators advancing groundbreaking technologies and business models to enable us to act on the ever-increasing climate and environmental crisis. Following a 2025 marked by geopolitical volatility and shifting economic signals, the global cleantech ecosystem enters 2026 with slightly greater certainty - yet heightened competitive pressure. Growth is concentrating around two dominant themes: AI infrastructure and critical minerals. “The 2026 Glo
World Economic Forum and Salesforce Empower Global Leaders With First-of-its-Kind Agentic Assistant for the 2026 Annual Meeting in Davos15.1.2026 18:01:00 CET | Press release
The Forum activates its vast data stores through Agentforce 360, enabling a level of preparation and decision-making for its over 3,000 attendees previously unachievable by human processing alone Salesforce (NYSE: CRM), the world’s #1 CRM, today announced the activation of the World Economic Forum’s institutional knowledge powered by Agentforce 360 to support over 3,000 of the world’s most influential leaders at the 2026 World Economic Forum Annual Meeting. The Forum has launched a new proactive, high-precision concierge app, “EVA,” built on the Agentforce 360 Platform, Salesforce’s agentic platform. EVA will empower attendees to move beyond traditional information access, with an AI agent that doesn’t just answer questions, but can reason, prioritize, and act on a leader’s behalf for the 2026 Annual Meeting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115571119/en/ Scheduled for January 19–23 in Davos, Switzerland, th
Frasca to Supply Four New Flight Training Devices to Global Medical Response15.1.2026 16:05:00 CET | Press release
New Level 7 FTDs will support pilot training for emergency medical operations Frasca International, Inc., a FlightSafety International company, today announced it has signed a contract with Global Medical Response (GMR) to supply four new Level 7 Flight Training Devices (FTDs). The new devices include an Airbus EC135, a Pilatus PC-12, a Beechcraft C90, and a Beechcraft B200. Each FTD will feature Frasca's unique motion system to provide enhanced realism in training. The devices will be installed at GMR’s new training facility currently under construction in Denton, Texas. Frasca has supported GMR’s pilot training efforts for nearly two decades, beginning with the delivery of their first device in 2005 for Air Evac Lifeteam, a GMR company. Since then, Frasca simulators have played a central role in preparing GMR’s flight crews for the complex and high-stakes environments they encounter in emergency medical operations. With the delivery of these new devices, GMR will operate a total of 1
illumynt Reports 60% Revenue Growth and Launches Global Innovation Center to Meet Rising Enterprise Security and Sustainability Demands15.1.2026 15:11:00 CET | Press release
illumynt an intelligent, security-first technology lifecycle partner, today announced significant growth and innovation milestones that position the company as a leader in the next evolution of the IT Asset Disposition (ITAD) industry—an industry increasingly shaped by artificial intelligence, accelerated hardware refresh cycles, and heightened regulatory scrutiny. Under the leadership of CEO Joerg Herbarth, illumynt continues to execute its mission to deliver intelligent, technology-driven lifecycle solutions that maximize sustainability, security, and recovery value for the world’s most compute-intensive organizations. In 2025, ITAD became a strategic imperative. AI-driven workloads have dramatically compressed infrastructure lifecycles, while updates to NIST SP 800-88 Rev. 2, adoption of R2v3, and the expansion of global privacy frameworks have raised expectations for auditability, transparency, and verified data security. As a result, ITAD has evolved from a back-end operational fu
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