Case Study: Interamerican prevents high-risk policies and fraud with FRISS

Prevent rather than cure by aligning preventive risk management and fraud detection

Interamerican, a leading insurer in the Greek non-life market, faced the challenge of proactively preventing high-risk policies and insurance fraud from entering its large motor portfolio with a small underwriting team. Their manual processes made it difficult to filter which applications required an active follow-up. To address this, they partnered with vendor FRISS to implement its Risk Assessment at Underwriting solution.

The FRISS solution was implemented in two phases, culminating in an automated process for rejecting high-risk cases. This provided Interamerican with an efficient process to detect suspicious policies. The measurable result is that 3 to 3.5% of policies are now flagged by the FRISS Score for evaluation, with 5 to 10% of those requiring an active follow-up, such as policy amendments or re-underwriting. FRISS also significantly increased fraud detection awareness across the entire organization.

Interamerican

Panos Kouvalis

Motor Underwriting Manager