Fadata partners with FRISS to elevate risk management for Insurers

By Gloria Methri

Fadata, a provider of insurance core software solutions, and FRISS, an expert in Trust Automation, have signed a partnership to bring out-of-the-box compliance, risk management, and fraud detection capabilities to the market.

Together, FRISS and Fadata will provide insurers with integrated real-time compliance and risk assessment capabilities within the INSIS platform. This will enable real-time underwriting decisions based on the insurer’s risk appetite and AI-powered fraud detection capabilities to automatically identify suspicious claims.

In doing so, insurers are set to benefit from increased operational efficiency, reduced claim losses, accelerated digital transformation, and, notably, enhanced customer trust. This will provide insurers with a strategic position and poignant message to boost competitiveness. The solution’s modular and customisable nature ensures that it can be tailored to meet the unique needs of each insurer, which will support them in staying ahead as demands change in the fluid market.

Neyko Bratoev, Head of Fadata Ecosystem, said, “Fadata is excited to join forces with FRISS and underline our commitment to enabling insurance companies to achieve operational excellence. Integrating FRISS’s advanced AI-powered compliance, risk mitigation, and fraud detection technology with our robust insurance software solutions, we are poised to deliver an unparalleled offering to the insurance market. FRISS has a proven track record of providing insurers with real-time, actionable insights to automate trust throughout the policy lifecycle, making them a reliable partner to serve our clients.”

Bas de Graaf, Global Partner Manager at FRISS, added, “We are excited to partner with Fadata to bring the Trust Automation Platform to a wider audience. Our compliance, risk underwriting, and claims analytics capabilities streamline processes for trustworthy and honest customers while automatically preventing fraud attempts. Together, we will empower insurers to make informed decisions, minimise risks, and protect their customers and assets. Organisations that focus on enhancing trust will be able to start building the relationships their customers demand and deserve.”