Case Study: Signal Iduna reduces fraud losses with FRISS fraud detection

Replacing homegrown fraud software with a ready-to-use business solution, which directly filters out fraud suspicious claims within the core processes

Signal Iduna, a large German insurer, needed to replace its outdated, in-house fraud detection software. The system was no longer effective at filtering suspicious claims from its 450,000 annual claims. The company sought a new, more advanced business solution from a vendor to help its investigators work more effectively and improve its loss ratio. They selected FRISS after a thorough market search.

FRISS implemented its Fraud Detection solution, which uses a FRISS Score to identify risky claims and enable straight-through processing. The full ready-to-use system was rolled out in just six months. As a result, Signal Iduna can now proactively detect both opportunistic and organized fraud, allowing investigators to focus on the most relevant cases. This has improved effectiveness and helped reduce the company's loss ratio.

Signal Iduna

Andreas Frentrup

Head of Claims