Polonious pty Ltd has today announced it has sold its USA case management business to Dutch Insuretech FRISS. The deal will also see the support of Polonious’ Australian and NZ insurance customers transfer to FRISS.
Polonious’ banking and finance, private investigator, education or government clients in Australia and Europe will continue to be serviced and supported by Polonious.
Polonious and FRISS have been in discussions for a number of months and last week agreed terms for the sale of both Polonious USA and the insurance customers of Polonious’ Australian and NZ business.
According to Stuart Guthrie and Alastair Steel, co-founders of Polonious, the deal is an exciting opportunity for Polonious.
“We are very proud of the unique fully configurable case management software we have developed. It has helped many customers save on labour and fraud costs, reduce their need for IT investment and protect their brands. This deal will enable our software to benefit many more customers around the world.
“The deal also provides us with a significant capital injection and we are excited about the potential this gives us to enhance our product, develop new releases, explore new opportunities and potentially expand further into and beyond the banking and finance, investigator, government and education sectors.
“Our software has already helped many companies in a variety of sectors process investigations faster and more efficiently by combining advanced technology with full reporting capabilities and configurable user interfaces.
“We are excited to continue this journey and keep helping businesses protect their brands by processing claims faster and more efficiently,” they said.
The deal is expected to close in coming weeks and transition arrangements have been developed to ensure smooth transfer of operations for customers that will move over to FRISS.
Polonious is a leading provider of specialist case management systems for businesses in a wide range of industry sectors – including banking, finance, education, government and private investigators. With a unique approach to fully configurable software they have helped the businesses they support increase case through put by 38% and reduce administration costs by almost 25%. They have a full sales and support team based in Sydney Australia and will continue to service Australian and New Zealand clients from here and via their partners in the UK.
FRISS is a Dutch based Insuretech business that offers fraud, risk and compliance solutions to insurers worldwide. They offer insurers an AI powered fraud analytics platform – an end to end service, which is now enhanced by the inclusion of the Polonious software which broadens their SIU capabilities and further optimises workflows.
For further information please contact:
Alastair Steel, Co-founder Polonious on : 0414 656 700
Stuart Guthrie, Co-founder Polonious on: 0403 470 123