Tieto, FRISS join forces to fight insurance fraud in the Nordics

This cooperation matters at a time when effective fraud and risk detection is becoming increasingly important.

Digitalization and automation are changing the way insurers work. Insurance companies are becoming more vulnerable both to individual fraudsters and organized crime. Without effective solutions to identify fraudsters in time, there is a risk that a growing cost will be transferred to customers and society as a whole, in the form of increasing premiums.

Many insurance companies can only investigate a very small proportion of flagged potential cases. Among these, “false positives” are a major concern. The solution that FRISS and Tieto offer increases the number of real fraudulent cases identified, while reducing the overall number of flagged cases. This helps fraud investigators spend their time on cases that matter. Genuine claims can be handled and paid out faster, increasing customer satisfaction.

Fraudulent payments are estimated at 2,5-5 billion SEK per year in Sweden (source), and in Finland, a study found that 17% respondents said they knew a person “who has deceived their insurance company”.