Insuretech, Simfuni, has announced the launch of its next-generation claims management automation platform, which it says completes its end-to-end digital lifecycle offering across underwriting, policy servicing and claims operations.
The New Zealand-based life insurance technology provider says in a statement that the new functionality had been designed with an emphasis on the practical realities faced by operational teams bringing together claims management, payments, and workflow into a more streamlined and usable environment.
Chief Product Officer Tim von Dadelszen told RiskinfoNZ that in NZ the Simfuni platform is currently live with SBS Insurance, Momentum Life and Gallagher Bassett and the company is in conversations with most of the life insurers in New Zealand.
…Advisers also benefit when claims processes are faster…
Asked how the claims platform will impact on advisers and their work, von Dadelszen says that while the new capability is focused on insurer operations, the company believes advisers also benefit when claims processes are faster, clearer, and easier to manage.
“Better workflow visibility, integrated payments, and improved operational tooling ultimately help insurers deliver a smoother and more responsive claims experience for both advisers and their clients.”
…Claims is one of the most operationally intensive parts of an insurance business…
In the statement von Dadelszen notes that claims is one of the most operationally intensive parts of an insurance business.
“Our focus has been on building something that works the way teams actually work – clear, configurable, and easy to use under pressure.”
Claims payments are managed directly within the platform, enabling a smooth progression from assessment through to settlement, and reducing the need for manual processes or system handoffs, Simfuni says.
The firm adds the release builds on Simfuni’s existing capabilities in payments and in-force policy servicing, reinforcing its approach of delivering a connected operational platform for insurers.
It notes the launch follows significant growth for the company, including the onboarding of three new enterprise customers and expansion into the United States and Australian markets “…as insurers increasingly seek AI-enabled operational infrastructure capable of reducing costs, improving retention, accelerating claims outcomes, and modernising legacy systems.”