Partnerships are looking like a key trend within the insurance sector in 2020, and so finding a partner company that can help you install, or update, automated systems covering policy inception, claims and routine admin has the potential to save companies a great deal of money.
Kryon®, a leading robotic process automation (RPA), process discovery and AI solution provider and Long-Term Care Group, Inc. (LTCG), a third-party administrator for long-term care, today announces the outcome of their latest innovative collaboration.
LTCG has successfully streamlined insurance applications, billing/administration and claims processing using the Kryon Automation Suite, reaping the full benefits of the exclusive Process Discovery™ tool along with unattended RPA capabilities.
Following the successful deployment of Kryon’s unattended RPA in 2018, LTCG sought to adopt a more robust solution and turned to Kryon Process Discovery™. This new emerging technology in RPA solution development has recently and successfully expanded the scope of LTCG’s automation project, reaching additional divisions of the organization. Kryon Process Discovery™ actively identifies, analyzes and optimizes processes within LTCG’s different departments for easy automation evaluation and then generates the automation for RPA development. The team was able to uncover 83 unique processes that were perfect candidates for automation.
“Kryon’s full-cycle automation solutions have enabled us to accelerate many aspects of our business administration, seeing improvements of up to 70% proficiency with the highest degree of accuracy and delivery,” said Justin Kruse, RPA Lead at LTCG.
“We recognize the huge value that Kryon Process Discovery™ delivers in conjunction with RPA, and we’re certain that our working relationship with Kryon will help us to boost our digital efficiency quickly and easily.” LTCG’s utilization with RPA is expected to double within the next year with great growth potential in things like cognitive services and departmental expansion.
Kryon Process Discovery™ is the first product of its kind on the market, and the only one to exist as part of an end-to-end RPA and automation suite. It offers enterprises an exceptionally effective way to reduce costs and increase operational efficiencies.
Harel Tayeb, CEO of Kryon, talks about the successful collaboration with LTCG by saying, “We’re very proud to witness the success that LTCG has experienced with our full-cycle automation suite. We look forward to continuing our partnership with LTCG to help them increase ROI, minimize costs and maximize efficiency within their company. LTCG has been a trailblazer with this emerging technology and exemplifies how companies can scale automation already in place. Our solution allows our customers to better streamline their business processes and generate significantly higher revenues, and is easily tailored to their specific needs, goals and processes,” Tayeb said.
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