Benekiva provides a claims management platform that integrates with existing policy administration systems to automate and streamline the claims process for life, annuity, and long-term care insurance. This technology reduces processing times and operational costs while enhancing customer satisfaction through improved claim resolution efficiency.
Funding
Funding not disclosed
Founders
Product
Problem
Insurance carriers often struggle with outdated technology and disconnected systems, leading to delays and inefficiencies in claims processing for life, annuity, long-term care, and disability products. These inefficiencies result in increased operational costs, reduced customer satisfaction, and an inability to adapt quickly to changing market needs and regulatory landscapes.
Solution
Benekiva offers a SaaS claims management platform that integrates with existing policy administration systems to automate and streamline the entire claims process, from intake to payout. The platform provides a collaborative, single claims environment that enhances customer experience and transforms claims processing into a more efficient operation. By unifying data and processes, Benekiva reduces cycle times, minimizes manual errors, and lowers operational costs. The configurable platform allows carriers to create an orchestration layer across multiple lines of business and external partners, enabling them to modernize their processes and future-proof their operations.
Target Audience
Benekiva primarily serves insurance carriers, including life, annuity, long-term care, and disability insurance providers, seeking to modernize their claims processes, reduce operational costs, and improve customer satisfaction.
Features
- Seamless integration with legacy, out-of-the-box, and custom-built policy management systems
- Configurable workflows to automate claims processing for life, annuity, long-term care, and disability products
- Real-time tracking and automated workflows for faster settlements
- Centralized platform for claimants, policyholders, associates, and agents to manage claims and policies
- SOC I and SOC II Type II certified for data security and compliance
- Cloud-based platform allowing access from any device, empowering employees and policyholders to manage claims from anywhere
- Portal360 product providing a hub for claimants and carrier staff to collaborate and manage claims within a configurable, single dashboard view