FRISS Accelerates in the UK in Order to Fight Insurance Fraud

Today FRISS, the global provider of fraud and risk solutions for the P&C insurance industry, announced the opening of its UK office. At the same time FRISS is expanding the team for the UK, led by the experienced Martyn Griffiths.

The expansion into UK is a next phase of acceleration following a Series A funding in 2017 by French based Blackfin Capital Partners and US based Aquiline Technology Growth. By building the team in the UK, FRISS answers to the growing attraction from insurers for their AI-powered fraud detection solutions.

FRISS added seasoned insurance professional Martyn Griffiths to the team in order to further accelerate growth and fraud fighting in the UK. Martyn started his career in claims working across property, casualty and motor for General Accident, NZI Insurance in New Zealand and FAI Insurance in Australia. It was whilst working for Zurich that Martyn changed direction to outbound sales. After that, Martyn joined the big data company Experian , where Martyn worked with insurers and brokers to realize the benefits of business and consumer information in commercial insurance throughout the customer journey.

Griffiths: “One of the great strengths of FRISS is to make use of external data providers in the risk scoring process. With the high maturity in the UK market regarding data availability, FRISS expects to make a difference for P&C insurance companies to improve their claims and underwriting process. Lowering risks during the application process and improving the claims process by finding more fraud, lowering costs and support straight through processing (STP) initiatives. Especially with the inquiries we have received in the past months, we feel the UK is ready to fight fraud with our AI-powered solutions. I feel that the moment is now for insurers to start leveraging the predictive modeling and machine learning capabilities of the FRISS platform to automate their fraud efforts. This will help insurers lower their loss ratio and help focus on the sincere customers.”

Marc Mulder, FRISS CCO added: “I am very happy to on board such an experienced and great person like Martyn Griffiths to open up and grow the UK office for FRISS.  We’ve seen growing demand in the UK territory in recent years. By supporting the UK insurance community with local presence, we feel ourselves better positioned to help out. Together with our strong partner network we are keen to bring honest insurance alive in the UK.”

FRISS has a 100% focus on automated fraud and risk detection for P&C insurance companies worldwide. The AI-powered detection solutions support digital transformation. Insurers go live within 4 months, with fixed price projects, and realize an ROI within 12 months. The FRISS solutions help to lower the loss ratio, enable profitable portfolio growth, and improve the customer experience.