Innovative Partnership Between FastTrack and RGA Paves the Way for Digital Automation in Insurance
In a landmark collaboration, FastTrack has joined forces with the Reinsurance Group of America (RGA) to deliver cutting-edge technology aimed at transforming the claims management landscape in the life and disability insurance sectors. This partnership positions FastTrack, a leading innovator in digital automation, alongside RGA, a global player in reinsurance, to improve operational efficiencies and client experiences for their respective customers.
The technology brought forth by this alliance is centered on patent-pending digital solutions that target both life and life waiver of premium processes. This strategic partnership is expected to bring significant advancements in intelligent automation capabilities, particularly in workflows associated with claims management. According to Senan O'Loughlin, Executive Vice President and Head of U.S. Individual Life at RGA, this partnership enhances RGA’s mission of driving digitization throughout the life insurance lifecycle, thus addressing key pain points experienced by clients.
FastTrack has been a pioneer in the sector since 2012, heralding a new approach to claims management that minimizes manual administrative tasks by up to 90%. The integration of intelligent automation tools offers a path to more streamlined claims processes, thereby allowing insurance carriers to enhance their service delivery considerably. By partnering with RGA, FastTrack aims to tap into RGA's profound expertise in claims management consulting, which will be invaluable in identifying insurance carriers that can benefit from this technological synergy.
Thomas Capato, CEO and Co-founder of FastTrack, expressed excitement about the strategic nature of this alliance, emphasizing the value that the partnership will deliver to their clients. As both companies prepare to initiate joint engagement processes, they aim to assist life and life waiver insurance carriers in digital transformation. This collaborative effort is designed to unveil new opportunities for operational and financial enhancements while delivering enriched claim experiences to clients.
Moreover, with RGA managing over $4.0 trillion in life reinsurance and possessing $120.3 billion in assets as of September 2024, it stands as a formidable entity in the sector. The firm is guided by its commitment to providing innovative solutions that improve risk management and capitalize on resources in the insurance sphere.
Overall, this partnership aims not only to innovate and streamline the claims processing journey but also to contribute to a broader digitization trend in the insurance industry. By aligning their strengths, FastTrack and RGA are determined to uplift the overall client experience in insurance claims management, setting new benchmarks within the industry. As they progress, the collaboration holds the promise of redefining the operational pathways in which insurance information flows, paving the way for a more effective and customer-friendly approach in the future.
For those interested in more information about FastTrack’s offerings, their intelligent automation tools are readily available through their website at FastTrackRTW.com, which outlines how they are revolutionizing the claims management landscape through advanced technology. As the partnership progresses, it will be intriguing to see the tangible impacts on customer experiences and operational efficiencies in the insurance sector, marking a step forward in digital transformation initiatives driven by both organizations.
The technology brought forth by this alliance is centered on patent-pending digital solutions that target both life and life waiver of premium processes. This strategic partnership is expected to bring significant advancements in intelligent automation capabilities, particularly in workflows associated with claims management. According to Senan O'Loughlin, Executive Vice President and Head of U.S. Individual Life at RGA, this partnership enhances RGA’s mission of driving digitization throughout the life insurance lifecycle, thus addressing key pain points experienced by clients.
FastTrack has been a pioneer in the sector since 2012, heralding a new approach to claims management that minimizes manual administrative tasks by up to 90%. The integration of intelligent automation tools offers a path to more streamlined claims processes, thereby allowing insurance carriers to enhance their service delivery considerably. By partnering with RGA, FastTrack aims to tap into RGA's profound expertise in claims management consulting, which will be invaluable in identifying insurance carriers that can benefit from this technological synergy.
Thomas Capato, CEO and Co-founder of FastTrack, expressed excitement about the strategic nature of this alliance, emphasizing the value that the partnership will deliver to their clients. As both companies prepare to initiate joint engagement processes, they aim to assist life and life waiver insurance carriers in digital transformation. This collaborative effort is designed to unveil new opportunities for operational and financial enhancements while delivering enriched claim experiences to clients.
Moreover, with RGA managing over $4.0 trillion in life reinsurance and possessing $120.3 billion in assets as of September 2024, it stands as a formidable entity in the sector. The firm is guided by its commitment to providing innovative solutions that improve risk management and capitalize on resources in the insurance sphere.
Overall, this partnership aims not only to innovate and streamline the claims processing journey but also to contribute to a broader digitization trend in the insurance industry. By aligning their strengths, FastTrack and RGA are determined to uplift the overall client experience in insurance claims management, setting new benchmarks within the industry. As they progress, the collaboration holds the promise of redefining the operational pathways in which insurance information flows, paving the way for a more effective and customer-friendly approach in the future.
For those interested in more information about FastTrack’s offerings, their intelligent automation tools are readily available through their website at FastTrackRTW.com, which outlines how they are revolutionizing the claims management landscape through advanced technology. As the partnership progresses, it will be intriguing to see the tangible impacts on customer experiences and operational efficiencies in the insurance sector, marking a step forward in digital transformation initiatives driven by both organizations.
Topics Business Technology）
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