IRVINE, Calif.--(BUSINESS WIRE)--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 The company sought to upgrade the outdated software being used in its claims area and to enable auto-indexing, reduce manual efforts and move to exception based processing.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.
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.