By: 23 July 2019
Fraud solutions provider FRISS opens UK office

Fraud and risk solutions provider FRISS is opening its first office in the UK.

FRISS, which provides artificial intelligence (AI)-based fraud detection solutions to the property and casualty insurance (P&C) industry, is also expanding its team in the UK, led by new recruit Martyn Griffiths.

The provider, with bases in the Netherlands, US, Germany, France and Chile, is moving to the UK as part of the next phase of its growth, following an injection of funding from Blackfin Capital Partners and Aquiline Technology Growth in 2017.

Griffiths started his career in claims working across property, casualty and motor for General Accident, NZI Insurance in New Zealand and FAI Insurance in Australia.

It was while working for Zurich that Griffiths changed direction to outbound sales. After that, he joined Experian, where he worked with insurers and brokers to realise the benefits of business and consumer information in commercial insurance throughout the customer journey.

Commenting on why he joined FRISS, Griffiths said: “One of the great strengths of FRISS is to make use of external data providers in the risk scoring process. With the high maturity in the UK market regarding data availability, FRISS expects to make a difference for P&C insurance companies to improve their claims and underwriting process.”

He continued: “Lowering risks during the application process and improving the claims process by finding more fraud, lowering costs and support straight-through processing initiatives. Especially with the inquiries we have received in the past months, we feel the UK is ready to fight fraud with our AI-powered solutions.”

“I feel that the moment is now for insurers to start leveraging the predictive modeling and machine learning capabilities of the FRISS platform to automate their fraud efforts. This will help insurers lower their loss ratio and help focus on the sincere customers.”

Marc Mulder, chief commercial officer of FRISS, added: “I am very happy to on board such an experienced and great person like Martyn Griffiths to open up and grow the UK office for FRISS.”

“We’ve seen growing demand in the UK territory in recent years. By supporting the UK insurance community with local presence, we feel ourselves better positioned to help out. Together with our strong partner network we are keen to bring honest insurance alive in the UK.”