FRISS Accelerator for Claims Analytics for Guidewire Cloud
Mason, OH (Jan. 16, 2024) – FRISS, a world leading provider of trust automation solutions for P&C insurers, is pleased to announce a strategic collaboration with FIN-X, a renowned research initiative by the University of Applied Science Utrecht, focused on innovative technologies and responsible AI. This partnership underscores FRISS’s commitment to further advancing responsible AI practices within the insurance ecosystem, aligning with the company’s dedication to unleashing the full potential of AI technologies while mitigating risks.
In an ever-evolving landscape where AI plays a pivotal role in transforming the insurance sector, FRISS recognizes the importance of responsible AI development. The collaboration with FIN-X represents a significant step and aims to remain at the forefront of the ethical and compliant use of artificial intelligence in insurance.
Continuous Commitment to Responsible AI
FRISS has always prioritized responsible AI practices, acknowledging the delicate balance between embracing innovation and complying with regulatory frameworks. In a recent blog post, titled “The Future of Responsible AI: Striking a Balance Between Regulation and Innovation,” FRISS elaborates on its philosophy and commitment to continuously improve its AI solutions.
The collaboration with FIN-X will enable FRISS to leverage the latest research and insights in responsible AI, ensuring that their solutions not only meet but exceed industry standards for the ethical and compliant use of artificial intelligence.
Key Benefits for the Insurance Industry
FRISS is committed to incorporating the latest advancements in responsible AI into its solutions. The collaboration with FIN-X reinforces this commitment, ensuring that FRISS’s AI technologies adhere to the highest ethical standards.
Richard Bakker, Head of Data Science at FRISS explains: “As we navigate the rapidly evolving landscape of AI in insurance, responsible innovation remains at the core of our mission. The collaboration with FIN-X represents a strategic partnership that will bring FRISS to new heights in ethical AI development, benefitting insurers and the industry as a whole.”
“At FIN-X, we are thrilled to partner with FRISS, a company known for its commitment to innovation and responsible AI, adds Dr. Martin van den Berg, Head of Research at FIN-X. “Together, we aim to contribute valuable insights to the ongoing dialogue surrounding ethical AI practices, and explainable AI in particular, in the insurance industry, fostering a culture of compliance and innovation.”
FRISS’s collaboration with FIN-X reaffirms its position as an industry leader dedicated to responsible AI. The insights gained from this partnership will not only benefit FRISS’s solutions but also contribute to the broader conversation on responsible AI in insurance.
- Learn more about FRISS in the InsurTech Spotlight.
About FRISS
FRISS is 100% focused on automated fraud, risk and compliance solutions for P&C insurance companies worldwide. Their AI-powered solutions are available for Underwriting, Claims, and SIU, offering support for full end-to-end digital processing.
With over 300 implementations across more than 40 countries, FRISS is seen as a trusted advisor, guaranteeing a safe digital transformation for all of their customers, and unique tailoring of solutions to fit their specific needs. Carriers can expect a seamless integration and products that provide a quick time to value (TTV).
Now, with $65 Million from their Series B funding round in 2021, FRISS will be able to continue offering their customers state-of-the-art technology to guide carriers through an ever-changing fraud landscape.
For more information, visit FRISS.com.
About Fin-X
Explainability of the outcomes and operation of AI systems is an important condition for safeguarding consumer and society’s confidence in AI, especially in the financial sector. In FIN-X, together with industry partners, we develop tools and guidelines to convert the outcomes and operation of complex AI systems into an understandable explanation for employees such as claims handlers and underwriters. For more information, please visit www.internationalhu.com/research/projects/fin-x.
Source: FRISS
Tags: Artificial Intelligence (AI), FRISS, InsurTech, InsurTech Spotlight, partnership
