Guidewire Software, Inc. (NYSE: GWRE), a provider of software products to P&C insurers, today announced that FRISS, the global provider of fraud and risk solutions for the P&C insurance industry, has joined Guidewire PartnerConnect™ as a Solution partner. In addition, the FRISS Fraud Detection at Claims accelerator, which speeds the integration between FRISS and Guidewire ClaimCenter™, has successfully completed the Ready for Guidewire accelerator validation process. This designates that it has been through a rigorous review process that supports readiness for integration with Guidewire products. The accelerator is for use in personal lines of business, motor, and property, and is available for download at no cost by Guidewire customers globally via Guidewire Marketplace™.
"Fraud is a serious issue for the insurance industry, with significant negative impact on insurance premiums," said Jeroen Morrenhof, CEO and co-founder of FRISS. "Fraud management is vital. The investigation of "false positives" often consumes time and money, and can impact on customer satisfaction, as well as resulting in competitive disadvantage. FRISS’s Fraud Detection at Claims accelerator helps insurers resolve these challenges, and the result is that claims adjusters are guided through a time-saving and systematic fraud and risk detection process."
"Carriers are looking to improve their ability to find value in the new world of analytics by gaining insights at the point of need," commented Karlyn Carnahan, Head, The Americas, for analyst Celent’s property casualty insurance practice. "Instead of running reports after the fact, the deep integration of fraud analytics into the claims process allows carriers to deliver actionable intelligence to adjusters as the claim is processed in real time. Not only will this deliver processing efficiencies, but the biggest potential gain is in the value that real-time information can offer when settling a claim."
FRISS’s Ready for Guidewire accelerator, through its integration with ClaimCenter, supports insurers by providing streamlined processing for fraud and risk management that comprises:
A real-time and AI powered risk indicator for each claim;
A risk score for use in defining next steps: settlement, investigation or risk management action;
Automated claims checking at defined stages; and
User-friendly follow-up research and data capture.
"FRISS’s Fraud Detection at Claims accelerator for Guidewire ClaimCenter provides claims teams with better insight into potential fraud and risk, as well as supporting those teams in effective cost and time management," said Becky Mattick, director, Global Solution Alliances, Guidewire Software. "Fraud management claims solutions are very important. We welcome FRISS as a PartnerConnect Solution partner."
About Guidewire Software
Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and AI to deliver our platform as a cloud service. More than 450 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.