GREECE: Eurolife ERB chooses FRISS solution to prevent insurance fraud

Eurolife ERB has selected the FRISS solution to confront insurance fraud more effectively. Eurolife ERB will be using FRISS to assess risks at underwriting and to detect fraud during the claims process, has announced FRISS.

"This enables Eurolife ERB to identify fraudulent claims and at the same time prevent bad risks from entering the portfolio", announced FRISS in a press release.

Eurolife ERB is between the largest general insurance providers in Greece. The current focus is on property insurance, but the company sees a strong potential in motor insurance. Eurolife ERB turned to FRISS because the insurer is aware of the threats that fraudsters impose on its business.

"We see a good opportunity to diversify our P&C portfolio and to increase our motor share in the Greek market. With FRISS we selected a modern provider, that will help us to build a healthy portfolio as well as to avoid payments due to fraudulent behavior", says Sotiris MATSIOULAS, Dep. General  Manager Operations & Customer Service of Eurolife ERB. "The investment in latest technology will further improve our business results in the future."

''Eurolife ERB is leveraging its fight against insurance fraud by not only going after fraud at claims, but also by preventing fraudsters from entering the books at underwriting'', says Jeroen MORRENHOF, CEO at FRISS.

The insurer chose to implement FRISS as SaaS (Software-as-a-Service) Solution.

"About 85% of our customers choose to use our product as SaaS. In some European countries the SaaS delivery model has already been successful for many years. For instance: 95% of the Dutch insurance companies use our SaaS model, compared to 60% internationally. More and more insurers are shifting from On-Premise to SaaS. It is promising to see that the benefits of SaaS are now recognized in other countries as well", said Christian van LEEUWEN, CTO at FRISS.

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