Swiss Re Reinsurance Solutions has formed a strategic partnership with Des Moines-based insurtech Benekiva to develop an integrated claims management platform.
The partnership will aim to combine Benekiva’s claims administration system with Swiss Re’s Claims Automated Rules Engine and expertise in risk management.
The Integrated Claims Management Platform will support digital claims intake, holistic workflow, correspondence, and document management, claims risk scoring and triaging, and built-in payout and audit capabilities, the parties say.
It will also aim for flexibility and scalability to account for legacy systems, multiple lines of business, and resource constraints that may complicate technology innovation for many re/insurers.
“We understand the importance of making it easy to file a claim, have it processed and receive payment quickly,” said Carl Christensen, Global Head L&H Solutions, Swiss Re Reinsurance Solutions.
“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,” he added.
Brent Williams, Founder and CEO of Benekiva, also commented: “Beneficiaries, like all modern consumers, expect an Amazon-like experience even when it comes to initiating claims. With Benekiva, insurers can reduce their claims cycle and processing times by up to 75%. The power of this partnership is set to elevate this even further, resulting in an improved experience for everyone involved.”
