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Gore Mutual Selects FRISS to Assist Struggle and Stop Fraud

Gore Mutual Selects FRISS to Help Fight and Prevent Fraud


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CAMBRIDGE, Ontario — Gore Mutual, Canada’s oldest property and casualty insurer with over $500 million in premiums, pronounces their choice of the AI-powered FRISS platform as a part of the corporate’s large-scale transformation. FRISS will allow real-time fraud detection and prevention in each underwriting and claims, and also will assist the corporate’s particular investigation efforts.

Gore Mutual is at present within the midst of an bold transformation program that may take the group from a mid-size, regional provider to a nationwide scale insurer underpinned by best-in-class know-how and working fashions in only some quick years.

Partnering with FRISS will enable Gore Mutual to additional improve their superior anti-fraud capabilities. The true-time FRISS answer supplies a singular mixture of out-of-the-box threat and fraud indicators with highly effective AI methods equivalent to predictive fashions, community evaluation and textual content mining. These will allow Gore Mutual to take a firmer stance in opposition to insurance coverage fraud whereas enabling extra environment friendly underwriting and claims providers for the insurer and its policyholders.

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“As a part of our transformation technique, we’re increasing and modernizing all of our know-how as we proceed to strengthen our operations and improve our digital capabilities and predictive analytics,” stated Neil Weir, Vice President of Claims at Gore Mutual. “FRISS is a worldwide chief in fraud prevention software program and their progressive platform will assist us to rapidly determine fraud dangers all through the coverage cycle permitting us to raised serve all of our prospects.”

“Canada has at all times been a beacon of potential for FRISS know-how,” stated Jeroen Morrenhof, CEO and Co-founder of FRISS. “In response to the Insurance coverage Bureau of Canada, 10 – 15% of claims embody fraudulent exercise, which prices Canadians billions of {dollars} in added insurance coverage premiums. Our group is delighted to begin working with Gore Mutual as a part of their transformation and we’re excited to assist them bolster their fraud prevention capabilities.”

This partnership represents one other step in FRISS’ enlargement in North America the place they already serve lots of the prime Canadian insurers.

About Gore Mutual

Based in 1839, Gore Mutual is Canada’s oldest property and casualty insurer, with over $500 million in premiums and over $1.1 billion in belongings. Based mostly in Cambridge, Ontario and Vancouver, British Columbia, this Canadian-owned and operated mutual firm employs over 450 folks and is understood for its funding in folks, know-how and innovation. Gore Mutual was voted the #1 insurance coverage firm by the Insurance coverage Brokers Affiliation of Ontario (IBAO) in 2014, named a 2019 Greatest Office in Monetary Companies and Insurance coverage and authorized as a 2020 Greatest Office Canada. For extra data, please go to https://www.goremutual.ca/.

About FRISS

FRISS is 100% centered on automated fraud and threat detection for P&C insurance coverage corporations worldwide. Their AI-powered detection options for underwriting, claims and SIU assist 175+ insurers develop their enterprise. FRISS detects fraud, mitigates dangers and helps digital transformation. Insurers go dwell inside 4 months, understand as much as 10 occasions ROI and 80% improve in straight by way of processing of coverage software and claims. FRISS options assist decrease loss ratios, allow worthwhile portfolio progress, and enhance the client expertise. For extra data, please go to www.friss.com.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20210323005491/en/

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Contacts

Gore Mutual
Shawn Despres, Public Relations and Communications Supervisor
1-800-265-8600, ext. 2676
E mail: sdespres@goremutual.ca

FRISS
Andrew Vogeney, Advertising Supervisor
E mail: andrew.vogeney@friss.com

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