Kryon Systems is pleased to announce our new partnership with MFX to develop and deploy insurance-specific automation tools. The combination of MFX’s years of experience in providing digitalization services for insurance companies and Kryon’s cutting-edge RPA solutions will enable providers to embrace new automation capabilities and streamline operations. By working with insurers to bridge the gap between the capabilities of legacy systems, and the increased need for speed, flexibility, and customer support, MFX and Kryon will ensure that providers remain competitive in an ever-changing industry.
The insurance industry is already undergoing a substantial reconfiguration as it embraces new and advanced technologies, but it’s also being pressured by increased competition due to the market entry of smaller, more agile, and highly specialized firms. This upheaval is threatening profit margins across the industry and is causing executives to seek methods to increase efficiency while keeping operational costs down.
With its best-in-market visual recognition tools, ease of use, and minimal programming knowledge requirements, Kryon’s end-to-end RPA solution automates critical but repetitive and time-consuming processes for businesses, thus enabling rapid task execution and increased overall productivity. The insurance industry is uniquely suitable for the adoption of RPA and other automation services with a multitude of rules-based processes, such as claims processing and underwriting, comprising the bulk of its operations. Kryon’s technology enables insurers to easily offload these tasks to a digital workforce, monitor them in real-time via a management console, and reconfigure automation scenarios as needed, allowing for a scalable solution for dynamic companies.
“The insurance industry is still heavily reliant on multiple legacy systems and a complicated web of databases, requiring agents to spend inordinate amounts of time handling relatively straightforward processes. This work can easily be offloaded to a virtual workforce, empowering agents to focus on more core elements of the business and ensure customers have a more satisfying experience,” said Harel Tayeb, CEO of Kryon Systems. “MFX is leading the digital transformation charge in the insurance industry, and we’re excited about the opportunities that our partnership will generate. Their hard work enabling providers to integrate a wide range of new technologies, from data analytics to advanced enterprise information systems, combined with our intelligent RPA solutions will ensure that insurers are equipped to handle the many changes coming to the industry.”
“When we were looking for a partner for developing process automation, we studied and compared over 25 available tools before selecting Kryon for its superior technology and for their readiness to work with us in developing insurance specific solutions,” said Pramod Vasant Deshpande, Vice President of MFX Services. “Their training program and quick response to support requests have proved our decision right, and I am sure we will continue to develop exciting business solutions for our customers.”
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