Friss Fraudebestrijding B.V.

Friss Fraudebestrijding B. V. is a leading provider of Trust Automation solutions for Property and Casualty insurers, focusing on risk assessment and fraud detection to optimize underwriting and claims processes. Established in 2006 in Utrecht, Netherlands, Friss Fraudebestrijding B.

V. specializes in offering advanced solutions for insurers to manage risk and detect fraud. The company was founded by Christian Leeuwen, Christian Van Leeuwen, and Jeroen Morrenhof, with Jeroen Morrenhof currently serving as the CEO. Friss has secured a total of USD 6.

00 mn through its Series B round in November 2021, led by Guidewire Software, Inc. , and has completed 4 deals since inception. FRISS specializes in providing a comprehensive Trust Automation platform tailored for Property and Casualty (P&C) insurers. Their core offerings include advanced analytics tools designed for real-time risk assessment, automated screening of policy applications, and claims processing solutions.

These products enable insurers to efficiently identify high-risk customers and streamline the underwriting process, resulting in faster policy issuance and improved claims management. The platform is designed for use by insurers across various markets, facilitating touchless trust in transactions by allowing immediate acceptance of applications from customers with favorable risk profiles. FRISS serves a diverse client base that includes tier 1 insurance carriers and various intermediaries, primarily in European markets, but their solutions are adaptable for use globally. FRISS generates revenue through a subscription-based model, providing access to their Trust Automation platform and related services to insurance clients.

The business transactions typically involve clients subscribing to their software solutions, which include integral functionalities for underwriting, claims processing, and compliance checks. Customers benefit from scalable plans that align with their operational needs, enhancing efficiency and reducing fraud. In 2022, the company's EBITDA was recorded at USD -6,269,888. 50, reflecting their ongoing investments in technology and market expansion.

In November 2021, Friss Fraudebestrijding B. V. raised USD 6. 00 mn in Series B funding led by Guidewire Software, Inc.

The funding will be utilized to deepen integration into Guidewire PolicyCenter and ClaimCenter, enhancing the risk assessment experience for their clients. This strategic move is expected to enrich the value delivered on Guidewire customer projects. As part of their growth strategy, Friss aims to launch new product features and expand into additional markets, although specific geographic targets and product launch dates have not been disclosed.