FRISS offers AI-driven fraud and risk detection software that covers the complete P&C policy lifecycle, from automated underwriting risk assessment to claims fraud detection and case management. Its solutions integrate with core systems such as Guidewire, Duck Creek, Sapiens and Keylane and leverage many external data points to create a holistic risk view. The company says it serves insurers in over forty countries, has completed over 200 implementations, and has helped 200+ insurers grow their business. FRISS reports it was on track to deliver over $2 billion in fraud savings to insurers in 2021 and cites up to 10x ROI and an 80% increase in straight-through processing for customers. Headquartered jointly in Utrecht, Netherlands and Mason, Ohio, with regional offices across DACH, LatAm, the UK, France and Spain, FRISS plans to use new funding to accelerate product innovation, deeper market penetration and lines-of-business expansion. The company emphasizes faster implementations (insurers go live within four months) and next-generation AI to support digital transformation across underwriting and claims. Friss provides ready-to-use analytics solutions for underwriting, claims, investigations and compliance that leverage AI and machine learning to deliver the FRISS Score, a risk indication for insurers. The platform is used by over 130 insurers worldwide. Led by CEO Jeroen Morrenhof, the company focuses on fraud detection and risk mitigation across private and commercial lines. Friss raised €15m in a Series A to further strengthen its solutions and accelerate global expansion. The company plans to use the funds to facilitate the anti-fraud community by enabling cross-carrier and cross-border cooperation between insurers.

Total raised

$83M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2021