Sapiens and FRISS: Partnering for Honest Insurance
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced it has expanded its growing ecosystem by partnering with FRISS, a market leader in AI-powered fraud and risk solutions for the property & casualty (P&C) insurance industry. This partnership is part of Sapiens’ strategy to help its customers better mitigate risk and reduce fraud, improve the customer journey for low risk policies and claims, and make innovative insurtech solutions easily available to its customers.
Powered by a unique combination of out-of-the-box risk and fraud indicators, and artificial intelligence, FRISS’ solutions analyze policy applications, renewals, quotations and claims for high risks, fraud and compliance, to drive profitable growth. FRISS’ automated risk assessment allows carriers to improve their customer experience by speeding up the onboarding process and eliminating friction during claims payments. Suspicious cases can be investigated immediately, and insurers benefit from actionable insights. FRISS supports workers’ compensation and other lines of business where insurers are frequently taken advantage of.
FRISS will be seamlessly integrated into Sapiens P&C solutions to support the entire policy/claim lifecycle and empower staff to make the best decisions during quotation, claims handling and investigations. First focus will be to complete the seamless integration of the claims solution, followed by workers’ compensation and underwriting.
“Fraud has a profound, negative impact on the insurance industry, with about ten percent of incurred losses paying for illegitimate claims,” said Jeroen Morrenhof, co-founder and CEO of FRISS. “Our goal is to make insurance more honest. This is achieved not only by fighting fraud effectively, but also by preventing fraudsters from entering a carriers’ book of business and making sure that honest customers get the ultimate customer experience. Partnering with Sapiens was a natural decision for us, as it will enable us to shape the future of honest insurance.”
“Sapiens continues to work diligently to expand our partner ecosystem, so that our customers benefit from the latest innovations,” said Roni Al-Dor, Sapiens president and CEO. “Fraud and risk mitigation are crucial issues for insurers and this partnership will help them increase their profit margins by staying one step ahead of potential fraudsters.”
FRISS products include:
- Predictive underwriting risk scoring – an automated screening process offering real-time insights into the risks associated with a new customer request, leveraging predictive risk models and internal and third-party data. P&C providers can stay competitive by accepting or rejecting policies through a straight-through process (STP).
- Claims fraud scoring– predictive fraud models, expert knowledge rules, and internal and third-party data identify fraud before claims are paid. Automated fraud scoring also enables touchless processing for legitimate claims, improving the customer experience.
- Commercial lines and compliance screening – commercial carriers can paint the full picture of their customer, ensuring the right policy is written for the right price. Constant access to up-to-date Chamber of Commerce and other data sources allow constant monitoring of a carrier’s full portfolio.
About FRISS
FRISS is 100% focused on automated fraud and risk detection for P&C insurance companies worldwide. The AI-powered detection solutions for underwriting, claims and SIU help 175+ insurers grow their business. FRISS detects fraud, mitigates risks and supports digital transformation. Insurers go live within 4 months, realize 10 times greater ROI and an 80% increase in straight-through processing of policy application and claims. FRISS solutions help lower loss ratios, enable profitable portfolio growth, and improve the customer experience. For more information: www.friss.com.
About Sapiens
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers’ compensation and financial markets. With more than 35 years of experience delivering to over 450 organizations globally, Sapiens has a proven ability to satisfy customers’ core, data and digital requirements. For more information: www.sapiens.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191002005032/en/
Contact information
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com
Ruud van Gerwen
PR & Product Marketing
FRISS
+31 30 767 0352
Ruud.van.gerwen@friss.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Knopp Biosciences Presents Data Further Characterizing Its Lead Kv7.2 Activator Drug Candidate for the Treatment of KCNQ2 Epileptic Encephalopathy at the American Epilepsy Society’s 2019 Annual Meeting9.12.2019 20:00:00 EET | Press release
Knopp Biosciences LLC, a privately held drug discovery and development company focused on delivering breakthrough treatments for immunological and neurological diseases with high unmet need, today presented data characterizing KB-3061, the lead molecule in the Company’s Kv7 ion channel platform, at the American Epilepsy Society’s (AES) 2019 Annual Meeting in Baltimore, Maryland. Knopp is advancing the development of KB-3061 as a potential precision medicine treatment for the rare, neonatal disease KCNQ2 epileptic encephalopathy (KCNQ2-EE), a genetically defined disease associated with seizures beginning in the first days of life and profound neurodevelopmental delay. The disease is caused by dominant-negative mutations in the KCNQ2 gene, which produces a potassium channel, Kv7.2, critical to early brain development. Data presented at AES by Knopp scientists and its academic collaborators support the continued development of KB-3061 as a potential treatment for children with KCNQ2-EE. K
Murray Energy Corporation Posts Information to its Website Related to Murray Metallurgical9.12.2019 18:46:00 EET | Press release
Beginning on December 2, 2019, Murray Energy Corporation (the “Company”) engaged in confidential discussions under separate confidentiality agreements with certain members of an ad hoc group of superpriority lenders related Murray Metallurgical Coal Holdings, LLC and its subsidiaries (collectively, “Murray Metallurgical”). The confidentiality agreements require the Company to publicly disclose all material non-public information provided to such lenders on or prior to 8:30am (New York time) on December 9, 2019. The Company has posted certain previously undisclosed material to its website to satisfy its disclosure obligations under the confidentiality agreements. Such information can be viewed at the Investors portion of the Company’s website, located at murrayenergycorp.com/investors. Further inquiries should be directed to media@coalsource.com. Safe Harbor Statement The materials referenced in this release and posted to our website include forward-looking statements. A variety of fact
Takeda Demonstrates Its Long-Standing Commitment to Advancing Treatments for Rare Bleeding Disorders with Studies Highlighting Real-World Evidence and Investigational Gene Therapy at ASH 20199.12.2019 18:00:00 EET | Press release
Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE:TAK) (“Takeda”), today presented nine hematology poster presentations at the 61st American Society of Hematology (ASH) Annual Meeting that underscore its commitment to advancing treatments for rare bleeding disorders by incorporating real-world data and developing innovative adeno-associated virus (AAV) gene therapies. Understanding Real-World Evidence to Advance Patient-Centric Innovation in Bleeding Disorders Real-world evidence from studies across many of Takeda’s portfolio of treatments for hemophilia demonstrate the cost savings and patient benefits resulting from ongoing personalized treatment. However, in von Willebrand disease, real-world evidence highlights the ongoing unmet clinical need for personalization, as it may enable improved treatment outcomes. Insights presented at ASH include: ADYNOVATE ® [Antihemophilic Factor (Recombinant), PEGylated]: In the poster “Real-World Age-Stratified FVIII Consumption and Bleed Outcom
Seattle Genetics and Takeda Announce Additional Analyses of ADCETRIS® (Brentuximab Vedotin) ECHELON-1 and ECHELON-2 Phase 3 Clinical Trials at the 2019 ASH Annual Meeting9.12.2019 18:00:00 EET | Press release
Seattle Genetics, Inc. (Nasdaq:SGEN) and Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) today announced additional analyses of results from the ECHELON-1 and ECHELON-2 frontline phase 3 trials of ADCETRIS® (brentuximab vedotin). These analyses were presented at the 61st Annual Meeting of the American Society of Hematology (ASH) taking place December 7-10, 2019 in Orlando, Fla. ADCETRIS is an antibody-drug conjugate (ADC) directed to CD30, a defining marker of classical Hodgkin lymphoma and expressed on the surface of several types of peripheral T-cell lymphomas (PTCL). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191209005169/en/ The ECHELON-1 analysis highlighted a four-year update of the phase 3 clinical trial in a poster presentation. ECHELON-1 is evaluating ADCETRIS in combination with AVD (Adriamycin [doxorubicin], vinblastine and dacarbazine) compared to ABVD (Adriamycin [doxorubicin], bleomycin, vinblasti
Altasciences to Conduct Clinical Trial for Opioid Use Disorder Under NIH Funding9.12.2019 17:39:00 EET | Press release
Altasciences has been selected by Indivior PLC to conduct "A Phase I, Double-Blind, Placebo-Controlled, Randomized, Single Ascending Dose Study to Assess the Safety, Tolerability and Pharmacokinetics of INDV-2000 (C4X_3256) Under Fasting and Fed Conditions in Healthy Volunteers", pursuant to the National Institutes of Health (NIH) Funding Opportunity Announcement RFA-DA-19-002, dedicated to the development of medications to prevent and treat opioid use disorder and overdose. The grant was made to Indivior by the NIH in fiscal year 2019, to apply scientific solutions to reverse the national opioid crisis. In March 2018, Indivior entered into a license agreement with C4X Discovery Holdings PLC (C4X) whereby Indivior obtained exclusive global rights to develop and commercialize INDV-2000 (C4X_3256). The first-in-human, single-ascending-dose study will be conducted in two parts — Part I: double-blind, placebo-controlled, randomized, single-ascending-dose study in fasted condition. Part II:
Elliott Statement on Alexion9.12.2019 17:22:00 EET | Press release
Funds advised by Elliott Advisors (UK) Limited (together “Elliott” or “we”) acknowledge the statement issued by Alexion Pharmaceuticals, Inc. (“Alexion” or “the Company”) on Friday. Elliott confirms that it has had a multiyear, constructive and private engagement with Alexion that has led to value-creative changes at the Company. Despite two years of strong execution that bolstered the Company’s strategic value, we believe Alexion remains significantly undervalued by the market. Elliott is encouraged by the Board’s public commitment to evaluate any inbound interest and its overall commitment to shareholder value creation. Elliott remains of the view that Alexion would be a highly valuable strategic and financial asset for a number of larger pharmaceutical companies. We also continue to believe that a proactive approach would maximise the chance of an optimal outcome. We look forward to continuing our dialogue with the Company in an effort to close the gap between its current share pric
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom