FRISS launches its ‘insurance is a beautiful thing’ campaign

By William Girling
FRISS, a leading provider of AI-driven fraud detection and risk assessment solutions, has decided to launch a new publicity campaign...

FRISS, a leading provider of AI-driven fraud detection and risk assessment solutions, has decided to launch a new publicity campaign.

Intended to inspire a new-found appreciation for the industry at a time when it is more crucial to people’s lives than ever, the company’s ‘insurance is a beautiful thing’ seeks to dispel notions that the insurance is boring or inconsequential. 

FRISS offers products that can bolster the security of underwriting, claims, compliance and investigations. Conducting over 130 million screenings per year and saving over US$1bn in fraud claims, the company’s suite can be a powerful tool for the industry.

Combating Gen Y’s negative insurance experience

The company’s press release cites research from Insurance Information Institute which found that only 54% of surveyed Americans had a positive impression of the insurance industry. Moreover, Generation Y - the first to be digital-native - was found to generally lack a positive impression of it.

“We often recognise that people take insurance for granted,” said Jeroen Morrenhof, CEO and Co-founder of FRISS. “We want to remind everyone how important our industry is.

“I hope ‘Insurance is a beautiful thing’ helps people grasp the beauty of our industry and makes them realise how times continuously evolve, trends develop and customer expectations change. Carriers should change with them. It’s time to find new ways of doing business. This is our wake-up call for insurers: now is the moment for digital transformation.” 

Insurance: a rallying industry

It appears that the insurance industry has found renewed vigour ever since the COVID-19 pandemic forced it to re-evaluate current operating models.

Along with Swiss Re’s comments last week, leading companies are extolling the virtues of insurance not just as a coverage provider but a tool for social change and stability.

“The widening global protection gap is a huge opportunity for insurers to fulfil their mandate as risk absorbers and improve societal resilience,” commented Jerome Jean Haegeli, Group Chief Economist at Swiss Re. 

"In times of crisis, households need risk protection. Insurance is a key tool to help households reduce their financial vulnerability in disruptive environments."

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