Swiss Re, Benekiva partner to speed up claims
Swiss Re Insurance and Des Moines, Iowa-based insurtech Benekiva have partnered to derive efficiencies out of claims operations, the insurance function they say is often lagging others such as underwriting and distribution.
The companies together are launching their Integrated Claims Management Platform, combining Benekiva’s claims administration system with Swiss Re’s Claims Automated Rules Engine. The companies are launching the platform with life and health insurers in the U.S.
Lloyd Campbell-Gibson, Head L&H Claims, Americas, Swiss Re.
“Swiss Re and Benekiva both recognized a need to improve claims management and provide a more customer-centric claims experience,” wrote Lloyd Campbell-Gibson, head of L&H [life and health] claims, Americas, Swiss Re, in a response to questions. “As part of a marketplace evaluation, we came across Benekiva’s next-gen claims administration system and this stood out as something that would complement our offering. We were able to form a partnership that leverages the unique strengths of both companies to provide an innovative, end-to-end claims management platform that will help us achieve our joint vision of elevating the claims process for all involved.”
The new platform is a cloud-based software as a service (SaaS) platform that can integrate with any legacy or custom policy administration system, according to Campbell-Gibson. Benekiva’s contribution to the system collects data that feeds into Swiss Re’s rule engine part of the new platform. From there, “using API integration, we’ve created a seamless experience for claims staff,” he wrote.
The platform offers digital intake of claims, claims risk scoring and triage, payout and audit capability, and holistic management of workflow, correspondence and documents. Users can access the platform from any device.
“We have a strong pipeline of clients who have expressed interest in a claims solution, and we’re excited to work with early adopters to help them process claims more efficiently and improve the claims experience for everyone involved,” Campbell-Gibson wrote.
