The aim of the collaboration is to take explainable AI to new heights, by leveraging it with within FRISS solutions, such as using a fraud bot, network explainer, commercial underwriting chatbot, or a claim summariser.
As part of the move, FRISS is also planning to utilise the alliance to improve its own underwriting capabilities with Azure OpenAI Service, by bolstering its underwriting indicator engine, to improve overall accuracy on commercial underwriting data.
Through the firm’s use of the Azure OpenAI Service, FRISS is planning to present potential fraud cases into more engaging and understandable stories, using the art of storytelling as the essence of the explanation. This approach will allow the organisation to convey potential fraud risks to insurers seamlessly.
As part of the deal, FRISS solutions will be available in the Microsoft Commercial Marketplace – in both storefronts, Azure Marketplace and Microsoft Appsource.
Christian van Leeuwen, FRISS Co-Founder and CSO, commented: “Every time our AI model makes a prediction, we automatically create sentences, or bullet points, which explains why the model made such a prediction. Our vision is to transition to a more engaging and user-friendly “smart story” approach, capitalising on the power of Microsoft Azure OpenAI Service.
“As we move forward, we envision even more possibilities, with plans to release use cases for our customers based on generative AI, such as large language models, into our platform in the first half of 2024. This collaboration is just the beginning of our journey towards a more secure and trustworthy future in the fight against fraud.”
Gian Luigi Chiesa, Product Owner Data Science at FRISS, said. “After conducting an initial survey, the response to the ‘smart story’ format was very positive. We are now working on implementing this approach for a group of pilot customers, ensuring its seamless integration and effectiveness.”
Matthew Kerner, Corporate Vice President, Microsoft Cloud for Industry, said, “We are pleased to support the digital transformation of business processes in the insurance industry, especially in this new era of AI. FRISS brings differentiated new experiences to insurance customers with the power of Microsoft Azure OpenAI Service. With a deep understanding of the insurance domain, FRISS has the know-how to apply Azure OpenAI Service responsibly to core business processes of insurers and other regulated firms.”
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