Major U.S. Insurance Company Invests More Than $500,000 in Kofax Mobile Capture Platform
April 23 2015 - 8:00AM
Business Wire
Solution Will Simplify Payment and Onboarding
Processes to Improve the Customer Experience
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 U.S. property and casualty
insurance company has invested more than $500,000 in Kofax Mobile
Capture™ Platform, Kofax Mobile Capture SDK and Kofax Mobile ID™ to
provide its customers with a superior mobile customer experience.
This purchase marks the second major insurance company to adopt
Kofax Mobile Capture Platform in 2015.
Consumers are now more connected than ever via mobile devices,
and they expect to engage with companies whenever, wherever and
however they prefer. This insurance company is extending payment
capabilities to mobile devices, making it easy for customers to pay
premiums while simultaneously improving the customer experience.
With Kofax Mobile Capture Platform, customers simply view their
bill, select their preferred payment method and snap a picture of a
check or credit card to initiate the payment process. In addition,
Kofax Mobile ID will simplify and streamline this company’s new
customer onboarding and account openings. With Kofax Mobile ID, a
customer can use mobile devices to snap a picture of their driver
license, identification card or passport, and the software captures
the image, automatically extracts the relevant data and populates
an application form.
According to Javelin Strategy & Research, nearly 63 million
Americans made $95 billion in bill payments annually via mobile
devices in 2014. This volume is expected to rapidly increase as
consumers continue to turn to mobile devices to manage their
finances, and as awareness of such bill payment capabilities
grows.1
“The most frequent interaction a customer has with their
insurance company is paying premiums,” commented Drew Hyatt, Senior
Vice President of Mobile Capture Applications at Kofax. “Adding
mobile payments is a smart approach to win over this company’s
millions of policy holders by offering a simpler way to perform an
otherwise tedious, time-consuming task.”
Kofax Mobile Capture Platform enables organizations to create
dynamic mobile applications that integrate capture and process
management capabilities to streamline information intensive
customer interactions and extend self-service capabilities. It
turns mobile devices into information capture devices that deliver
more engaging applications that “meet customers where they are” in
the anywhere, anytime manner they increasingly prefer.
Part of the Kofax Mobile Capture™ Platform, the Kofax Mobile
SDK™ provides integration with Kofax capture services, content
extraction and validation, process management and analytics
capabilities. Combined with Kofax mobile frameworks, it provides
powerful mobile control capabilities for extracting information
from images, videos, bar codes and more—on both iOS and Android
devices.
Kofax Mobile ID™ lets an organization’s customers submit proof
of their identity as part of an account opening or other process by
simply taking a picture of their driver license, passport or
national identity card using their smartphone or other mobile
device. Mobile ID then extracts and validates the data in seconds.
This enhances the customer experience, speeds processing and
reduces costs. Kofax Mobile ID extracts and validates the business
critical content from all 50 U.S. state and most international
driver licenses, passports and national identity cards.
This sale closed in the fourth quarter of Kofax’s fiscal year
2015 and totaled over $500,000 in software license and maintenance
revenues.
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.
1 Javelin Strategy & Research, “Mobile Bill Pay:
Strategies to Grow Adoption and Build Engagement,” December
2014.
© 2015 Kofax Limited. Kofax and Kofax TotalAgility are
registered trademarks and First Mile, Kofax Mobile Capture SDK and
Kofax Mobile ID are trademarks of Kofax Limited.
Source: Kofax
Media Contact:Kofax® LimitedLaura Brandlin, +1 (949)
783-1545Director,
Communicationslaura.brandlin@kofax.comorInvestor Contact:MKR
Group Inc.Todd Kehrli, +1 (323) 468-2300kfx@mkr-group.com
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