INSURETECH CONNECT 2019: FRISS to Showcase Innovative Underwriting Risk Solution

FRISS, the market leader in AI-powered risk and fraud analysis solutions for the P&C insurance industry, announces its participation at Booth 802 during ITC 2019, the world’s largest insurtech event to be held September 23-25 in Las Vegas.

Yannick Brethouwer, VP Technology, and Kurt Jackson, VP Sales, will give a demonstration on September 25 at 11:30am in the Expo Hall’s Innovation Alley. The demonstration showcases FRISS’ unique underwriting solution, allowing insurers to onboard customers in a split second while refusing policies that would likely challenge their profitability. The FRISS demo will showcase several use cases in just 8 minutes, highlighting the speed at which actionable insights are provided to make better decisions.

FRISS Risk Assessment at Underwriting allows insurers to screen new policy requests and renewals to assess risk in real time, with most screenings taking only one second to return actionable insights. The solution, which can be integrated with Guidewire, Duck Creek or any other core system ensures 80% of good applications can be processed straight through (STP). It goes live within a few months and promises up to 10x ROI. It’s companion, FRISS Fraud Detection at Claims, screens all claims instantly and provides adjusters and investigators the information they need to quickly handle them. These 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.

Insurers that utilize the FRISS Solution see increased customer experience and NPS as legitimate claims are fast-tracked for payment. Their bottom line is increased as potentially fraudulent claims are blocked for payment while a quicker, more effective investigation can occur.

As an expert in the fight against fraud, Jackson and Brethouwer will join innovators Kyron and Auth0 to show in practice that some ideas and innovations are best seen in person. ITC’s innovation showcases are a space where the focus is on practical applications for emerging technologies and the creation of sustainable and measurable results. Attendees have the opportunity to experience a group of curated innovators that will make what they do real.

Jeroen Morrenhof, CEO of FRISS is enthusiastic when he says: “The FRISS team is very excited to once again showcase what we do best in front of such a great audience. We believe that the collaboration of the insurance ecosystem will be key in the fight against fraud. Our ultimate goal is to help the insurance industry to grow their business and stimulate honest insurance at the same time by detecting fraud and bad risks before they hurt your business and reputation. With all the members of our company dedicated to this purpose, we feel that we can really make a difference.”

This world’s largest insurtech conference hosts presentations of more than 250 experts and entrepreneurs. Speakers and sessions are designed to explore current trends, innovation and insourcing opportunities, while attendees receive the unique opportunity to interact with leading opinion leaders throughout the industry. The key issues at this year’s event include case studies of collaboration, consumer participation, practical AI applications, Blockchain, cyber defense and much more.

About ITC
InsureTech Connect is the world’s largest insurtech event, offering unparalleled access to the largest and most comprehensive gathering of technology entrepreneurs, investors and insurance industry holders from around the world. Founded by Jay Weintraub and Caribou Honig in 2016, ITC has grown to more than 7,000 attendees, hosting 250 speakers and representing more than 50 countries worldwide. InsureTech Connect 2019, presented by Oliver Wyman, will be held October 2-3 at the MGM Grand Las Vegas Hotel and Casino. https://insuretechconnect.com/