Software Will Capture and Process 20 Million Documents Annually
Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a prominent US based life insurance carrier expanded its use of Kofax solutions by investing an additional $550,000 to automate the capture and processing of more than 20 million documents annually.
The customer has used Kofax to successfully automate the capture of many types of documents, including application forms, supporting information, W-2s, legal certificates, and human resources and accounting forms. Once captured, content is automatically extracted and perfected for use in downstream processes, all while ensuring the consistent application of business rules needed for regulatory compliance and internal governance purposes. The Kofax implementation has resulted in reduced costs and latency, improved data integrity, and a significantly enhanced customer experience, all of which justified the solution expansion.
“Insurance is a highly competitive business,” stated Howard Dratler, Executive Vice President, Field Operations at Kofax. “By using Kofax to dramatically transform and simplify the business critical First Mile of real time, information intensive customer interactions, this solution enables a significant increase in responsiveness to customers and the ability to gain a unique competitive advantage.”