omni:us , a Germany-based provider of cognitive claims management services, and Dutch fraud and risk solutions provider FRISS have teamed up to offer insurance claims management and fraud detection to insurance carriers.
FRISS said that the digitisation of unstructured documents can support the risk assessment of policy documents and claims statements.
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Similarly, data extracted by omni:us can be used to spot fraud in claims and risk assessment in the underwriting process.
The products of both firms will complement each other by delivering AI capabilities and enable underwriters to digitise, make their claims process efficient, and offer improved customer experiences.
omni:us claims that its customers can accelerate their claims turnaround time by 80% and save at up to 75% of the original cost.
omni:us founder and CEO Sofie Quidenus-Wahlforss said: “Artificial intelligence plays an important role in digitalization. Currently, AI technologies can be used in numerous ways – but unfortunately, adoption rates are low.
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By GlobalData“Together with innovative partners like FRISS, we want to drive and shape the transformation process of the insurance world.”
FRISS co-founder and CTO Christian van Leeuwen said that the company goal is to make insurance more honest.
Leeuwen added: “We cannot achieve this alone. As a result, FRISS is always looking for partnerships…”
“omni:us is exactly such a partner that brings in modern functionality, delivering actionable AI that really helps our customers in digitalising documents to data…
“Together we can bring the fight against fraud to the next level.”
FRISS provides fully automated fraud and risk detection for P/C insurance companies and has enabled over 150 insurers to lower their loss ratios and improve customer experience.
