North American Life Insurer Uses Kofax Software to Provide a Better Customer Experience

Solution Eliminates Manual Touch Points and Speeds Claims Processing

IRVINE, Calif.--()--Kofax® Limited (NASDAQ: KFX)(LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that one of North America’s largest mutual life insurance companies has expanded its investment in Kofax Capture™ and added Kofax Transformation Modules™ to automate and speed the processing of insurance policies, applications and claims.

“Insurance organizations that strive to deliver superior customer and broker experiences need to be able to process information and transactions in near real-time,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “Kofax helped this insurer transform its customer-facing processes by automatically capturing business-critical information from any communication channel anytime, and extracting and classifying that information for instant downstream processing. Automating the First Mile is the new normal for insurance companies. Manual processing no longer meets customer or broker expectations.”

The sale included over $300,000 in software license revenue and over $65,000 in professional and other services. It closed during the fourth quarter of Kofax’s fiscal year ended June 30, 2014.

Kofax Capture provides industry leading scan-to-archive capabilities by scanning documents and forms to create digital images, extracting index data for retrieval purposes and delivering the images and associated data to a variety of repositories and applications.

Kofax Transformation Modules is a set of Kofax Capture add-ons that automate the classification and data extraction of different document types, transforming them into structured electronic information, ready for delivery into business systems and processes.

About Kofax

Kofax is a leading provider of smart process applications for the business critical First Mile of customer interactions. These begin with an organization’s systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased 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, business process outsourcing and other markets. Kofax delivers these through its own 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.

© 2014 Kofax Limited. Kofax is registered trademark and First Mile, Kofax Capture and Kofax Transformation Modules are trademarks of Kofax Limited.

Source: Kofax

Contacts

Media Contact:
Kofax Limited
Colleen Edwards
Vice President, Corporate Communications
+1-949-783-1582
colleen.edwards@kofax.com
or
Investor Contacts:
MKR Group Inc.
Todd Kehrli, +1-323-468-2300
kfx@mkr-group.com
or
FTI Consulting
Sophie McMillan, +44 (0) 20 7831 3113
kofax@fticonsulting.com

Release Summary

A North American life insurer is using Kofax software to automate and speed the processing of insurance policies, applications and claims.

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Contacts

Media Contact:
Kofax Limited
Colleen Edwards
Vice President, Corporate Communications
+1-949-783-1582
colleen.edwards@kofax.com
or
Investor Contacts:
MKR Group Inc.
Todd Kehrli, +1-323-468-2300
kfx@mkr-group.com
or
FTI Consulting
Sophie McMillan, +44 (0) 20 7831 3113
kofax@fticonsulting.com