Kofax Insurance Claims Processing

• Support of multiple languages. High automatic classification and validation rate. Scalable and expandable enterprise capture platform. End-to-end processing and seamless integration into SAP.

• Outstanding classification and validation quality; self-learning technology saves times and development efforts.

• “Productized proven solution”. (Real-time) integration capability with Oracle and multiple repositories.

• One platform to handle all types of documents – paper, fax, email and attachments. Self-learning technology.  Supporting any process; adding processes without additional cost.

• Best solution for handing unstructured documents (KTM performance proven in POC). 

• Improve Top Line Results. Accelerate business critical processes (claims, customer service, policies, contracts…); Shorten sales cycles; Make customer communication cost effective.

• Increase Operational Efficiency. Improve data accuracy; Enable straight through processing; Standardize data input and flow, enabling fast information exchange across multiple processes; Bridge information gaps.

• Reduce Costs Across the Enterprise. Eliminate manual work from claims and other processes; Exchange information across processes and eliminate cost and risk of fraud, double payments, etc.

• Information arrives in many different forms.

• In order to be processed someone needs to understand what it is.

• Then they need to decide what to do with it.

• Only then can they assign it to the relevant system of process.

• This is nearly always a manual effort.

• Manual processing in fraught with the potential for errors.

• Exceptions take longer and maybe overlooked.

• Manual processing takes time – minutes, hours, days.

• When Kofax enters the equation the time taken to process information is either totally eliminated or significantly reduced.

• Customer service levels enhanced.

• Productivity is increased.

• Costs are reduced.

• Kofax enables touchless processing of information.

• Data is captured from the information, validated and used to automatically inject the information into the right system and step in the business process – regardless of channel.

• No manual intervention results in significant cost saving and faster processing.

• For information requiring manual review, the time taken to understand and decide is still significantly reduced.

• Information is processed and presented to the right people and systems – and can be leveraged across functions (claims, underwriting, customer service, policy management, fraud, accounting, etc.).

• Cost saving and productivity increases accrue quickly even for information requiring some human processing.

• Cost-effective claims processing.

• Nimble customer services responsiveness.

• High efficiency underwriting.

• Streamlined risk, fraud and compliance management.

• Expand adoption of analytics and models;

• Integrate business intelligence and business process management;

• Identify cloud migration opportunities;

• Componentize, unwind and replace core systems;

• Improve customer communication tools;

• Institutionalize data management and integration;

• Create suites of empowerment tools;

• Adopt new mobile/table capabilities;

• Ramp up next generation social media usage;

• Expand adoption of underwriting tools into new lines of business.