Top Five U.S. Insurance Company Invests $2.4 Million in Kofax TotalAgility
April 21 2015 - 8:05AM
Business Wire
Software Will Streamline Property &
Casualty Claims Processing to Drive Significant Operational
Efficiencies
Kofax® Limited (NASDAQ: KFX), a leading provider of software to
simplify and transform the First Mile™ of customer engagement,
today announced that a top five United States insurance company has
invested $2.4 million in Kofax TotalAgility® software and related
services to process its significant volume of property and casualty
claims related to auto, home, renters, life and other insurance
policies.
The company will be using Kofax TotalAgility to dramatically
expand its ability to process claims and all of the inbound mail
related to those claims, which can account for up to 65 million
pages of documents annually. The company sought to upgrade the
outdated software being used in its claims area and to enable
auto-indexing, reduce manual efforts and move to exception based
processing. The insurer’s goal is to serve its policy holders
better and faster while also significantly reducing operating
costs.
"This insurer is a leader in catastrophe response so it must
have the ability to handle a massive influx of claims with utmost
speed, efficiency and accuracy when their customers need it most,"
said Howard Dratler, Executive Vice President of Field Operations
at Kofax. "After evaluating a wide range of competitive offerings,
it became clear that Kofax TotalAgility was the only solution that
could give the insurer the scalability, performance and control
needed to manage an incredibly high volume of claims."
Kofax TotalAgility is the world's first unified process
automation platform. TotalAgility provides an essential link
between an organization's systems of engagement and systems of
record to help increase responsiveness to customers, improve
service levels and gain competitive advantage in order to better
manage and grow businesses while greatly reducing operating
costs.
This sale closed in the third quarter of Kofax's fiscal year
2015 and totaled approximately $1.4 million in software license
revenue and $1.0 million in maintenance and professional
services.
About Kofax
Kofax is a leading provider of smart process applications to
simplify and transform the First Mile™ of customer engagement.
Success in the First Mile can dramatically improve the customer
experience, greatly reduce operating costs and increase
competitiveness, growth and profitability. Kofax software and
solutions provide a rapid return on investment to more than 20,000
customers in financial services, insurance, government, healthcare,
supply chain, business process outsourcing and other markets. Kofax
delivers these through its direct sales and service organization,
and a global network of more than 800 authorized partners in more
than 75 countries throughout the Americas, EMEA and Asia Pacific.
For more information, visit kofax.com.
© 2015 Kofax Limited. Kofax and Kofax TotalAgility are
registered trademarks and First Mile is a trademark of Kofax
Limited.
Source: Kofax
Media Contact:KofaxLaura Brandlin,
+1-949-783-1545Director,
Communicationslaura.brandlin@kofax.comorInvestor
Contacts:MKR Group Inc.Todd Kehrli,
+1-323-468-2300kfx@mkr-group.com
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