Qantev and INSTANDA Announce Strategic Partnership to Revolutionize Life and Health Insurance Distribution, Operations and Claims Management
Qantev, a leading AI-driven claims management platform for health & life insurance, is pleased to announce a partnership with INSTANDA, the fastest growing and largest no-code policy administration platform in the global insurance market. This partnership will enable insurers globally to rapidly launch new products, automate claims processes, and improve customer satisfaction through no-code technology and advanced AI.
The collaboration will provide health and life insurers with an end-to-end solution that combines flexible policy administration with powerful claims optimization. Insurers will be able to:
- Launch new products rapidly, reach new customers and increase sales through flexible distribution.
- Automate operational processes across the new business, communication, reporting and post sales insurance life cycle.
- Leverage AI and machine learning to automate claims processes, data acquisition, policy & coverage checks, medical coding & consistency checks, and adjudication.
- Increase the quality and accuracy of claims data through specialized OCR, data extraction, cleaning and enrichment features, gaining valuable insights & analytics.
- Reduce claims leakage through robust fraud, waste & abuse detection and network performance optimization.
- Improve customer satisfaction through faster claims processing.
"By combining INSTANDA's agile product development, distribution and policy administration capabilities with Qantev's AI claims management features, we're offering insurers a comprehensive solution that addresses both front-end and back-end challenges," said Tarik Dadi, CEO & Founder of Qantev. “A perfect storm of increased costs, medical inflation, post-COVID backlogs, chronic diseases, an ageing population, and increased demand means healthcare insurers can no longer keep up with paperwork, jeopardizing their profit margins. By combining our Claims AI expertise with INSTANDA’s no-code core insurance platform, we are setting a new standard for what is possible in reducing claims leakage, improving insurer’s loss ratios and elevating customer experience. This partnership is a step forward in our mission to enhance the performance of health and life insurers around the globe using cutting edge AI.”
Will Wood, Director, Life and Health Insurance, INSTANDA, added, "INSTANDA is delighted to partner with Qantev. The Life and Health insurance industry is a market that is overdue a technological revamp. Our combined technologies will empower insurers to grow revenue, streamline operations, reduce costs, and deliver exceptional customer experiences."
If you would like to learn more, please get in touch through our respective websites. Our insurance industry professionals will be happy to talk to you in more detail.
About Qantev:
Qantev is the most advanced AI-powered platform transforming how health and life insurers manage claims, reduce costs and improve services. Qantev’s AI-driven software brings automation and efficiency to one of the fastest-growing insurance sectors in the world. Today, Qantev powers the claims processes of customers in 10+ countries across Asia Pacific, Europe, Middle East and The Americas. www.qantev.com
About INSTANDA:
INSTANDA works with the leading carriers, MGAs and agents in Europe, North America, UK, Japan, LATAM, Africa, Middle East and Australia. INSTANDA is the Insurance Industry’s first and largest no-code core insurance platform and allows insurers to break into new markets as well as overcome the drawbacks of legacy IT systems and embrace the benefits of digital transformation.
Converting the lethargic back office to an agile middle and front office with low upfront costs. Using INSTANDA, organizations can now think and act at the same speed, where rates, questions, documents, customer journeys can be amended in minutes and new products can be launched in days and weeks via the INSTANDA no code interface. ROI is delivered in months via dramatically reduced product manufacturing, underwriting and distribution costs with unrivalled customer experience.
Visit https://instanda.com/ for more information and follow INSTANDA @instandaF2X on Twitter and INSTANDA on LinkedIn.
