FRISS Underwriting Risk Assessment Accelerator Now Available in the Guidewire Marketplace
Automated risk assessment helps insurers improve their underwriters' capabilities, reducing costs throughout the underwriting process, preventing fraud and automating risk assessment. As a result, the customer journey is smooth and fast and the assessment helps insurers maintain a healthy portfolio.
FRISS, the world's most established AI-powered fraud, risk and compliance solutions provider for property and casualty insurers and Guidewire's PartnerConnect solution partner, and Guidewire (NYSE: GWRE), provider of the industry platform that property and casualty insurers rely on, introduced the FRISS Underwriting Risk Assessment Accelerator for Guidewire PolicyCenter. The new gas pedal has passed the Ready for Guidewire validation process and is available for download by Guidewire customers from the Guidewire Marketplace.
The FRISS Underwriting Risk Assessment Accelerator facilitates real-time decision making throughout the policy lifecycle. The Accelerator automatically and systematically selects policies and prospects based on the insurer's risk appetite to help establish a straightforward process while maintaining a healthy portfolio. With the FRISS Underwriting solution, insurers can standardize decision making, automate underwriting rules and improve their process within the PolicyCenter.
"We congratulate FRISS on the addition of its newest gas pedal to the Guidewire Marketplace," said Becky Mattick, vice president, Global Solution Alliances, Guidewire. "The FRISS Underwriting Risk Assessment Accelerator for Guidewire's PolicyCenter facilitates real-time underwriting decisions during the policy submission, coverage and renewal process through powerful AI models and relevant external data feeds, simplifying the process and saving insurers time and money."
"I'm very pleased to see the Accelerator for Direct Underwriting Risk Assessment on the Marketplace, which further deepens our relationship with Guidewire, our long-time partner," said Bas de Graaf, director of global partnerships at FRISS. "By using this gas pedal, insurers can better meet their compliance requirements. In addition to identifying customers and screening against various sanction lists, a FRISS risk assessment score with explanations can be provided, fully tailored to the insurer's desired risk appetite. Fully integrated with PolicyCenter, the underwriter can make decisions in real time, benefiting both the insurer and its clients."
The Accelerator will be available for personal auto, commercial auto, workers' compensation, general liability (personal and commercial), homeowners and marine insurance
About Guidewire
Guidewire is the platform P&C insurers trust to engage, innovate, and grow effectively. We combine digital, elemental, analytics and AI to deliver our platform as an info-hosted service. More than 450 insurers, from startups to the world's largest and most complex companies, use Guidewire.
As a partner to our customers, we are constantly evolving to help them succeed. We pride ourselves on our unparalleled implementation track record, with more than 1,000 successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace offers hundreds of applications that accelerate integration, localization and innovation.
For more information, please visit www.guidewire.com and follow us on Twitter: @Guidewire_PandC.
About FRISS
FRISS is 100% focused on automated fraud, risk and compliance solutions for general insurance companies worldwide. Their AI-powered solutions are available for underwriting, claims, and SEU, providing support for complete end-to-end digital processing.
With over 300 implementations in more than 40 countries, FRISS is considered a trusted advisor, ensuring a secure digital transformation for all their customers, and a unique tailoring of solutions to their specific needs. Insurers can expect seamless integration and products that add value quickly.
Now, with $65 million from their Series B funding round in 2021, FRISS will be able to continue to offer its customers cutting-edge technology to guide insurers through an ever-changing fraud landscape. For more information, please visit www.friss.com.
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MEDIA CONTACT - Ruud van Gerwen, Global Marketing Manager. Email: ruud.van.gerwen@friss.com
