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Major U.S. Insurance Company Invests More Than $500,000 in Kofax Mobile Capture Platform

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Kofax(R) Limited (NASDAQ:KFX) , a leading provider of software to simplify and transform the First MileTM of customer engagement, today announced that a top five U.S. property and casualty insurance company has invested more than $500,000 in Kofax Mobile CaptureTM Platform, Kofax Mobile Capture SDK and Kofax Mobile IDTM to provide its customers with a superior mobile customer experience. This purchase marks the second major insurance company to adopt Kofax Mobile Capture Platform in 2015.

Consumers are now more connected than ever via mobile devices, and they expect to engage with companies whenever, wherever and however they prefer. This insurance company is extending payment capabilities to mobile devices, making it easy for customers to pay premiums while simultaneously improving the customer experience. With Kofax Mobile Capture Platform, customers simply view their bill, select their preferred payment method and snap a picture of a check or credit card to initiate the payment process. In addition, Kofax Mobile ID will simplify and streamline this company’s new customer onboarding and account openings. With Kofax Mobile ID, a customer can use mobile devices to snap a picture of their driver license, identification card or passport, and the software captures the image, automatically extracts the relevant data and populates an application form.

According to Javelin Strategy & Research, nearly 63 million Americans made $95 billion in bill payments annually via mobile devices in 2014. This volume is expected to rapidly increase as consumers continue to turn to mobile devices to manage their finances, and as awareness of such bill payment capabilities grows.1

“The most frequent interaction a customer has with their insurance company is paying premiums,” commented Drew Hyatt, Senior Vice President of Mobile Capture Applications at Kofax. “Adding mobile payments is a smart approach to win over this company’s millions of policy holders by offering a simpler way to perform an otherwise tedious, time-consuming task.”

Kofax Mobile Capture Platform enables organizations to create dynamic mobile applications that integrate capture and process management capabilities to streamline information intensive customer interactions and extend self-service capabilities. It turns mobile devices into information capture devices that deliver more engaging applications that “meet customers where they are” in the anywhere, anytime manner they increasingly prefer.

Part of the Kofax Mobile CaptureTM Platform, the Kofax Mobile SDKTM provides integration with Kofax capture services, content extraction and validation, process management and analytics capabilities. Combined with Kofax mobile frameworks, it provides powerful mobile control capabilities for extracting information from images, videos, bar codes and more-on both iOS and Android devices.

Kofax Mobile IDTM lets an organization’s customers submit proof of their identity as part of an account opening or other process by simply taking a picture of their driver license, passport or national identity card using their smartphone or other mobile device. Mobile ID then extracts and validates the data in seconds. This enhances the customer experience, speeds processing and reduces costs. Kofax Mobile ID extracts and validates the business critical content from all 50 U.S. state and most international driver licenses, passports and national identity cards.

This sale closed in the fourth quarter of Kofax’s fiscal year 2015 and totaled over $500,000 in software license and maintenance revenues.

About Kofax

Kofax is a leading provider of smart process applications to simplify and transform the First MileTM of customer engagement. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing and other markets. Kofax delivers these through its direct sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

1 Javelin Strategy & Research, “Mobile Bill Pay: Strategies to Grow Adoption and Build Engagement,” December 2014.

(c) 2015 Kofax Limited. Kofax and Kofax TotalAgility are registered trademarks and First Mile, Kofax Mobile Capture SDK and Kofax Mobile ID are trademarks of Kofax Limited.

Source: Kofax

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