Kofax Extends Claims Processing Product to Property Casualty Insurers

Kofax plc, a provider of capture enabled business process management (BPM) products, announced the expansion of the Kofax Claims Processing Solution to include property, casualty and life insurance carriers, enabling them to automate and accelerate claims processing for greater operational efficiency, enhanced customer satisfaction and distinct competitive advantage.

The offering builds from the market success of the Kofax Medical Claims Processing Solution, which was launched last year.

This new product provides a single platform that captures documents from multiple sources, transforms pertinent claims data into electronic information and delivers it into the claims processing system as well as the necessary downstream business processes associated with the resolution of the claim.

By automating the claims process, insurance providers can pay claims faster, reduce processing costs and diminish costly errors, which ultimately leads to better customer service, improved customer retention and greater opportunities to enroll additional customers.

“Improving the claims experience has a direct impact on long term customer retention and addition for insurance carriers,” said Martyn Christian, chief marketing officer. “Streamlining and automating the process helps carriers resolve claims faster, more accurately and with greater transparency, resulting in improved customer satisfaction.”

The product improves communication and collaboration between disparate departments, processes and functions, dramatically enhancing information availability throughout the organization. Capture enabled claims processes can also lessen a carrier’s risk and compliance exposure by providing a fully auditable and traceable process that affords immediate access to information pertinent for reviews or audits.

Source: Kofax plc