NICB and FRISS form strategic partnership to curb fraud
FRISS, a company dedicated to combating insurance fraud using innovative IT software, and the National Insurance Crime Bureau (NICB), a not-for-profit organization dedicated exclusively to fight insurance fraud and theft, recently announced the two organizations entered a strategic partnership.
NICB gathers, analyzes and disseminates information to support its member companies in detecting fraud. Officials said this partnership provides yet another innovative way for mutual members of NICB and customers of FRISS to access and incorporate NICB information to detect fraud.
“We see this partnership as a positive step in making sure our members and FRISS customers have the tools needed to combat the challenges associated with insurance fraud,” NICB president and chief executive officer Joe Wehrle said.
“Building strategic partnerships like this reinforces our commitment to helping our members with cutting edge technology. It’s another example of why NICB continues to be the insurance industry thought leader in the fight against insurance crime,” Wehrle continued.
FRISS was founded in 2006 when co-founders Jeroen Morrenhof and Christian Van Leeuwen decided it was possible for technology to help combat insurance fraud. Since then the solution has been implemented more than 175 times at carriers worldwide.
The FRISS Score can alert insurers in real time to potentially fraudulent claims. Actionable insights and indicators are displayed to ensure the score is accurate and transparent, and that the case can be handled properly and efficiently.
The FRISS Solution can be integrated with any modern or legacy core system.
“Insurance fraud has a profound societal impact,” Morrenhof said. “It doesn’t just hurt insurers. In fact, the average family pays hundreds more in premiums than they should each year, all because of dishonest customers.
Our mission at FRISS is to make insurance more honest and partnering with NICB brings us a giant step closer to helping carriers instantly identify claims that are likely to be fraudulent,” Morrenhof continued. “They can now execute smarter investigations quicker, deny payments on fraudulent claims and provide their honest clients with a supreme customer experience.”
The company went on to note this partnership will allow insurers to seamlessly incorporate NICB data into their automated fraud scoring process, ensuring that cases with ties to known fraud can be caught and investigated immediately.