Sura Selects FRISS For Integrated P&C Claims & Fraud Detection In Personal Lines

FRISS and Guidewire Software, Inc. (NYSE: GWRE) announced last week that SURA Colombia (SURA) has deployed its integrated claims fraud detection program for motor personal lines with the FRISS accelerator for Guidewire ClaimCenter. According to FRISS, SURA Colombia is the first insurance company to deploy the accelerator from the Guidewire Marketplace.

“We decided to work with FRISS because we recognized they could give us great value in our claims management process by providing a real-time risk score that allows us to better focus our investigation process and improve the claim process for honest customers,” says Ruben Dario Cañas Aranzazu, Motor Claims Manager at SURA Colombia. “Furthermore, the Guidewire accelerator is easily and quickly downloaded, and implemented. Finally, FRISS and Munich RE’s partnership has been such that we felt confident in the project’s success and in reaching the goals we have set.”

Harald Schnabel, Head of Department Casualty Underwriting Latin America, Iberia & Caribbean of Munich Re says, “In this exclusive partnership with FRISS in Latin America, Munich Re brings claims and client expertise, and FRISS its competence for fraud detection in insurance based on state-of-the-art technology. This enables a fast implementation process and supports our clients with an innovative solution. We are convinced that FRISS will have a positive impact on loss ratios and the efficiency of claims processes, which creates value for the client and Munich Re. We are pleased to have SURA Colombia as the first joint implementation in Colombia.”

Suramericana S.A. is a Medellín, Colombia based insurance company and subsidiary of Grupo SURA (81.1%) with Munich Re as a minority shareholder (18.9%). The company presents itself as the SURA brand, with a comprehensive portfolio of insurance solutions and integral trend and risk management. Suramericana has operations in nine countries of Latin America (Colombia, Chile, Mexico, Argentina, Brazil, Uruguay, Panama, Dominican Republic and El Salvador), where it reaches 17.5 million clients.