Swiss Re Reinsurance and Iowa-based insurtech Benekiva have formed a partnership to develop an integrated claims management platform. The platform will combine Benekiva’s claims administration system with Swiss Re’s claims automated rules engine and risk management.
The integrated claims management platform is an end-to-end solution for digital claims management. The platform supports digital claims intake, holistic workflow, correspondence, and document management, claims risk scoring and triaging and built-in payout and audit capabilities.
Swiss Re says across the industry, investment in improving the claims process is lagging compared to other parts of the insurance chain, most notably within the areas of underwriting and distribution. Although, insurers who are focusing on improving their claims systems are starting to see the payoffs, it adds.
Commenting on the partnership, Carl Christensen, global head life and health insurance, says: “We're thrilled to partner with Benekiva to offer a holistic, digital claims processing solution that can free up claims staff to focus on what matters most: helping customers through a very difficult time."
Brent Williams, founder and CEO of Benekiva, adds: "With Benekiva, insurers can reduce their claims cycle and processing times by up to 75 per cent. The power of this partnership is set to elevate this even further, resulting in an improved experience for everyone involved.”
