FRISS and INTERAMERICAN Win Gold Award
Mar 12, 2025
FRISS and INTERAMERICAN win Digital Finance Award 2025.
FRISS, the global leader in Trust Automation solutions for Insurance, together with INTERAMERICAN, a member of the Achmea Group and a leading insurer in the Greek, Cyprus and CEE market, have been honored with the prestigious Digital Finance Award 2025 organised by BOUSSIAS. Together, they have won the Gold Award in the category of Best Use of AI-driven Technology for Claims and Automated Underwriting.
This recognition highlights the successful collaboration between FRISS and INTERAMERICAN since 2014, in leveraging cutting-edge technology to enhance risk and fraud management while maintaining a strong focus on customer service and operational efficiency.
The goal of INTERAMERICAN is to give their honest clients the best service they deserve and to make sure that high risks and fraud cannot enter the books. With an integrated solution for both Underwriting and Claims, the company can focus on the core business of protecting their clients from risks and covering damage.
The FRISS solution assesses all applications and claims in real-time, using a hybrid AI model for detecting risk and fraud, including network analytics, text mining, risk and fraud scenarios, and predictive models.
Results of the Integrated Approach for Underwriting and Claims at INTERAMERICAN
For underwriting purposes, 100% of New Business is automatically reviewed. In total, less than 5% of all cases require further actions, thus significantly increasing efficiency and at the same time limiting potential fraud and risk.
Every claim is automatically scored, enabling the identification of suspicious cases with remarkable accuracy. Currently, the FRISS solution flags approximately 3% of claims as suspicious, with a portion of these cases being assigned to investigators for further review.
In 2023, this approach yielded significant results:
4,400 claims were identified as suspicious for fraud.
26% of these claims involved exaggerated compensation requests, resulting in savings of €2.2 million.
3.6% of claims were recalled, saving an additional €270,000.
A Commitment to Honesty and Efficiency
“Our collaboration with FRISS plays a key role in enhancing our risk management and fraud detection processes, helping us maintain a robust and trustworthy portfolio. By embracing AI-powered technology, we have improved our operational performance while staying true to our commitment to transparency and customer trust,” said Panos Kouvalis COO and member of BoD at INTERAMERICAN.
“We are thrilled to see INTERAMERICAN and FRISS recognized for our mutual holistic view on risk and fraud management,” added Ariane Braam-Verkoren, VP Sales EMEA/APAC at FRISS. “This Gold Award underscores the value of our Trust Automation solutions in helping insurers mitigate fraud, reduce risks, and deliver exceptional customer experiences.”
About FRISS
FRISS is the leading provider of Trust Automation for insurance companies. Real-time, data-driven scores, and insights prevent fraud and give instant confidence and understanding of the inherent risks of all customers and interactions. Based on next generation AI technology, the Trust Automation Platform allows to confidently manage trust throughout the insurance value chain – from the first quote all the way through claims and investigations when needed.
About INTERAMERICAN
INTERAMERICAN, part of the Achmea Group, is one of the leading insurance providers in Greece and Cyprus, with a strong presence in the non-life market. The company operates through a multi-channel distribution strategy, combining a trusted network of agents and brokers with a growing direct business. Its direct insurance brand, Anytime, is a pioneer in the Greek market and has successfully expanded to Cyprus since 2017. Today, in collaboration with FRISS, INTERAMERICAN is further extending the Anytime model to the Central and Eastern Europe (CEE) region, reinforcing its commitment to innovation, digital transformation, and customer-centric insurance solutions.