DEVK successfully implements FRISS for real-time claims fraud detection
DEVK, a modern, 3.4 billion euro German insurer since 1886, has successfully implemented FRISS Fraud Detection at Claims in order to have a future-proof and AI-powered SaaS solution to fight insurance fraud and serve honest customers in the best possible way.
At DEVK, more than 400 claims people, spread over 19 offices throughout Germany, screen about 160.000 motor claims each month. And each claim handler is responsible for the complete processing of a claim, from FNOL to investigation. They are now able to work with FRISS and receive the claim insights in real-time via a seamless integration with DEVK’s SAP core claims solution.
Thanks to FRISS’s combination of powerful AI, text mining, predictive models and tailormade expert business rules, each claim handler receives a holistic view for the claim, making the whole process very efficient. 96% of all motor claims at DEVK are scored green and can be processed quickly, providing an excellent customer experience for sincere clients.
After having considered to build their own solution, DEVK decided that a proven business solution would provide them with additional benefits. The integrations with HIS (Hinweis- und Informationssystem), the insurance info database of the German Insurance Association (GDV), to connect to fraud data in real time was a prerequisite. Besides that, a technical connection to Control€xpert is provided to enhance DEVK’s own database.
Peter Boecker, Director Claims Management at DEVK, comments: “From day one, our employees were enthusiastic about the AI-based support. If our experience with FRISS continues to be positive, we could imagine connecting further business lines.”
Gülnur Cevik, Senior Project Manager at DEVK, adds: “It was a great experience for me and my team to work on an AI-based Fraud Detection Solution. The collaboration with the FRISS team was very professional.”
Olcay Krandaoglu, Senior Project Manager at FRISS, states: “DEVK’s demand is “Said. Done. Helped.”. I strongly believe, that with FRISS we help them in living this statement. For each claim handler we deliver all the actionable insights, so they really know what is behind the claim. This helps them in turning a moment of misery into a moment of magic for those claimants, that need their service most. Although we faced some challenges in the project, I’m happy to see that with the strong partnership and cooperation in the project teams we turned these into a success and have very good results. I’m looking forward to working with DEVK in their other lines of business as well.”
DEVK has developed into a high-performance, modern insurance group. Today around four million customers with over 15.1 million risks in all lines of business place their trust in DEVK. The fact that they are particularly loyal customers depends not least on personal proximity: 1,200 branch offices and 19 regional head offices throughout Germany speak for themselves. For more information, please visit www.devk.de.
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 helps 175+ insurers 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.