Turkish insurer ANADOLU Sigorta detects fraud with FRISS solution

2 March 2017 — Daniela GHETU
Turkish insurer ANADOLU Sigorta, one of the largest providers of non-life insurance services in Turkey, with over 1 billion Euro in GWP in 2016, has announced that is live with FRISS solution Fraud Detection at Claims. The company turned to FRISS because the insurer is aware of the threat from fraudsters.

Fatih GOREN, GMY at ANADOLU Sigorta, explains: "FRISS proves to the right good choice. Their solution was the best option for us as they deliver a fully automated scoring of claims. The easy to use case management module ensures we can work efficiently on the follow-up of suspicious claims. Besides that the project has been delivered in time and budget."

ANADOLU Sigorta aims to fight fraud using an advanced technology combining expert knowledge with analytical capabilities. In the Turkish market it is reported that there is an estimated 15% fraud rate of all claims. Accordingly, it is insurance companies' foremost responsibility to detect and separate fraud claims from genuine claims. It is not only important to detect fraud but also be able to increase the level and quality of service for genuine claim owners. It is also critical to engage fraud related information in the underwriting process to maintain a healthy portfolio.

In the claims process, FRISS enables ANADOLU Sigorta to improve its loss ratio by increasing the chances of detecting fraud and limit false positives to a minimum. This helps ANADOLU Sigorta to become more effective at fraud investigation by directly recognizing claims that need further attention or require active follow-up.

Jeroen MORRENHOF, CEO at FRISS, says: "It is great to see that a leading company as Anadolu Sigorta acknowledges that insurance fraud should not prevail. Anadolu Sigorta paves the road for others in the region to follow and make insurance more honest. We are proud to be part of that journey."

About ANADOLU Sigorta

As a privately-owned insurance company, ANADOLU Sigorta has been playing an important role in the development of the insurance industry in Turkey and in the modernization of the country's socio-economic environment in parallel with that development ever since it was founded. Down through the years, ANADOLU Sigorta's unchanging principle of paying claims immediately and in full has been a source of confidence for our country's people.

About FRISS | fraud, risk & compliance

FRISS has 100% dedication to fraud, risk and compliance for non-life insurance companies worldwide. FRISS helps insurers to achieve profitable portfolio growth and improve their perception in the market as a trustworthy insurer. FRISS is a ready-to-use business solution and improves the insurers' loss ratios by identifying high risks and fraud at quotes, underwriting and claim handling across all private and commercial lines.

The FRISS Score enables better decisions since it indicates the risk for each quotation, policy or claim. FRISS is European market leader with 100+ implementations in over 14 countries