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FT Partners Advises FRISS on its Acquisition of Terrene Labs

Overview of Transaction

  • On April 13, 2021, FRISS, the leading AI-powered fraud, risk and compliance solutions provider for P&C insurance carriers, announced it has completed the acquisition of Terrene Labs
  • Headquartered in Utrecht, Netherlands, FRISS is powering the digitalization of the insurance industry through fully automated risk assessment and fraud detection solutions
  • FRISS develops and markets an AI powered anti-fraud software which safely enables straight through processing underwriting and touchless claims
  • Terrene Labs is a US-based InsurTech company providing digital underwriting processing solutions to commercial insurance companies in North America
  • Terrene Labs’ solution enables a truly digital, automated underwriting process, reducing a 7-day process to 5-7 seconds

Significance of Transaction

  • The acquisition will add Terrene Labs’ proprietary data offering to FRISS’ underwriting and claims analytics solution to widen the product offering to insurers and increasing the data sources connected to FRISS’ AI powered analytics engine
  • The transaction is highly strategic and will enhance FRISS’ leading position in the insurance automated risk assessment and fraud detection market

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to FRISS
  • This transaction underscores FT Partners' deep InsurTech domain expertise and its successful track record advising cross-border transactions