FRISS, a major player in trust automation for P&C carriers, has joined forces with Microsoft to enhance its AI fraud model explanations using the powerful Microsoft Azure OpenAI Service. FRISS is proud to collaborate with Microsoft as a Global Partner and take explainable AI to new heights. With this collaboration, FRISS solutions will be available on the Microsoft Commercial Marketplace, making it easier for insurers to access these innovative offerings.
Azure OpenAI Service offers numerous use cases within FRISS solutions, including fraud bots, network explainer, commercial underwriting chatbot, and claim summarizer. Additionally, FRISS plans to leverage Azure OpenAI Service to enhance existing capabilities such as its underwriting indicator engine, aiming to improve accuracy in commercial underwriting data.
FRISS is on a mission to create smart explanations of its AI models’ predictions, aligning with its responsible AI approach. Leveraging Azure OpenAI Service, FRISS can present potential fraud cases in engaging and understandable stories, utilizing the art of storytelling as the foundation of the explanation. This approach makes it easier for insurance professionals and fraud investigators to understand and communicate potential fraud incidents.
Christian van Leeuwen, FRISS Co-Founder and CSO, explains that whenever their AI model makes a prediction, they automatically generate sentences that explain why the prediction was made. FRISS envisions transitioning to a more user-friendly “smart story” approach, harnessing the power of Microsoft Azure OpenAI Service.
This approach offers several advantages. Firstly, FRISS applies the 7 principles for trustworthy AI, ensuring responsible AI implementation based on the ethical guidelines developed by the European Commission’s High-Level Expert Group on AI. Secondly, FRISS customers can better understand the AI Fraud Model explanations through ChatGPT, which creates more compelling and coherent explanations compared to simple sentences. Lastly, by using ChatGPT only for explanations, FRISS mitigates potential bias or ethical concerns, as it does not influence fraud assessments or add any scores.
Gian Luigi Chiesa, Product Owner Data Science at FRISS, shared positive feedback from an initial survey on the “smart story” format. FRISS is currently working on implementing this approach for a group of pilot customers, ensuring a seamless integration and effectiveness.
FRISS remains committed to enhancing fraud model explanations and providing a transparent and unbiased experience for its customers. The company plans to release use cases based on generative AI, including large language models, in the first half of 2024. This collaboration with Microsoft marks just the beginning of FRISS’s journey towards a more secure and trustworthy future in the fight against fraud.
Matthew Kerner, Corporate Vice President, Microsoft Cloud for Industry, expressed his enthusiasm for supporting the digital transformation of business processes in the insurance industry, particularly in this era of AI. He commends FRISS for bringing differentiated experiences to insurance customers through the power of Microsoft Azure OpenAI Service. As FRISS possesses deep expertise in the insurance domain, they are well-equipped to apply Azure OpenAI Service responsibly to core business processes.
To explore FRISS solutions, visit their listings on Azure Marketplace or Appsource. You can also meet the FRISS team at ITC Las Vegas from October 31 to November 2, where they’ll be at booth #2034.
FRISS is the go-to provider of Trust Automation Solutions for P&C insurers, enabling instant trust in customers and seamless risk management throughout the insurance value chain. With FRISS, insurers can build the relationships that today’s customers demand and deserve.
For more information, please contact FRISS at firstname.lastname@example.org.