FastTrack and RGA Partner to Bring Digital Workflow Automation and Claims System Technology to RGA Clients
FastTrack and Reinsurance Group of America (RGA) have announced a strategic partnership to provide digital life and life waiver of premium workflow automation and claims system technology to RGA clients. The collaboration combines RGA's expertise in reinsurance and claims management consulting with FastTrack's digital automation technology.
The partnership aims to drive digital transformation initiatives across the life insurance lifecycle, focusing on enhancing customer claim experiences and improving operational processes. Through this collaboration, both companies will work together to identify insurance carriers that could benefit from their joint solutions, helping them execute digital transformation strategies and achieve operational and financial improvements.
FastTrack e Reinsurance Group of America (RGA) hanno annunciato una partnership strategica per fornire tecnologia di automazione dei flussi di lavoro e dei sistemi di gestione dei sinistri per le polizze vita e la rinuncia al premio ai clienti di RGA. La collaborazione combina l'esperienza di RGA nella riassicurazione e nella consulenza sulla gestione dei sinistri con la tecnologia di automazione digitale di FastTrack.
La partnership mira a promuovere iniziative di trasformazione digitale lungo l'intero ciclo di vita delle assicurazioni sulla vita, concentrandosi sul miglioramento dell'esperienza dei clienti nella gestione dei sinistri e sull'ottimizzazione dei processi operativi. Grazie a questa collaborazione, entrambe le aziende lavoreranno insieme per individuare i carrier assicurativi che potrebbero beneficiare delle loro soluzioni congiunte, aiutandoli così a implementare strategie di trasformazione digitale e a conseguire miglioramenti operativi e finanziari.
FastTrack y Reinsurance Group of America (RGA) han anunciado una asociación estratégica para proporcionar tecnología de automatización de flujos de trabajo y sistemas de reclamaciones para seguros de vida y renuncia de primas a los clientes de RGA. La colaboración combina la experiencia de RGA en reaseguro y consultoría de gestión de reclamaciones con la tecnología de automatización digital de FastTrack.
La asociación tiene como objetivo impulsar iniciativas de transformación digital a lo largo del ciclo de vida del seguro de vida, centrándose en mejorar la experiencia de reclamaciones de los clientes y optimizar los procesos operativos. A través de esta colaboración, ambas empresas trabajarán juntas para identificar aseguradoras que podrían beneficiarse de sus soluciones conjuntas, ayudándolas a implementar estrategias de transformación digital y lograr mejoras operativas y financieras.
빠른 트랙(FastTrack)과 미국 재보험 그룹(Reinsurance Group of America, RGA)는 RGA 고객에게 디지털 생명 보험 및 보험료 면제 워크플로 자동화 및 청구 시스템 기술을 제공하기 위한 전략적 파트너십을 발표했습니다. 이번 협업은 RGA의 재보험 및 청구 관리 컨설팅 전문성과 빠른 트랙의 디지털 자동화 기술을 결합합니다.
이번 파트너십은 생명 보험 생애 주기 전반에 걸쳐 디지털 혁신 이니셔티브를 촉진하고 고객 청구 경험을 향상시키며 운영 프로세스를 개선하는 데 초점을 맞추고 있습니다. 두 회사는 이 협업을 통해 공동 솔루션의 이점을 누릴 수 있는 보험사를 식별하여 디지털 혁신 전략을 실행하고 운영 및 재정 개선을 달성할 수 있도록 협력할 것입니다.
FastTrack et Reinsurance Group of America (RGA) ont annoncé un partenariat stratégique pour fournir une technologie d'automatisation des flux de travail et des systèmes de gestion des sinistres pour les polices d'assurance vie et les renoncements de primes aux clients de RGA. Cette collaboration combine l'expertise de RGA en réassurance et en conseil en gestion des sinistres avec la technologie d'automatisation numérique de FastTrack.
Le partenariat vise à stimuler des initiatives de transformation numérique tout au long du cycle de vie de l'assurance vie, en se concentrant sur l'amélioration de l'expérience des clients en matière de sinistres et l'optimisation des processus opérationnels. Grâce à cette collaboration, les deux entreprises travailleront ensemble pour identifier les assureurs pouvant bénéficier de leurs solutions conjointes, les aidant à mettre en œuvre des stratégies de transformation numérique et à réaliser des améliorations opérationnelles et financières.
FastTrack und Reinsurance Group of America (RGA) haben eine strategische Partnerschaft angekündigt, um digitale Lebensversicherungen und automatisierte Abläufe sowie Ansprüche zur Prämienverzicht-Workflow-Technologie für RGA-Kunden bereitzustellen. Die Zusammenarbeit vereint RGA's Fachkenntnis im Rückversicherungsgeschäft und in der Beratung im Bereich Schadenmanagement mit der digitalen Automatisierungstechnologie von FastTrack.
Das Ziel der Partnerschaft besteht darin, digitale Transformationsinitiativen im gesamten Lebensversicherungszyklus voranzutreiben, wobei der Schwerpunkt auf der Verbesserung der Kundenerfahrungen bei Schadenfällen und der Optimierung der Betriebsabläufe liegt. Durch diese Zusammenarbeit werden beide Unternehmen gemeinsam daran arbeiten, Versicherungsgesellschaften zu identifizieren, die von ihren gemeinsamen Lösungen profitieren könnten, und ihnen dabei helfen, digitale Transformationsstrategien umzusetzen und Betriebs- sowie Finanzverbesserungen zu erzielen.
- Strategic partnership expands RGA's digital capabilities in life insurance claims processing
- Potential for operational efficiency improvements for insurance carriers
- Enhanced customer claim experience through digital transformation
- None.
Insights
This strategic partnership marks a pivotal moment in the insurance industry's digital transformation journey. The collaboration between FastTrack and RGA (NYSE: RGA) merits attention for several compelling reasons:
First, the timing is particularly strategic. The insurance industry is experiencing unprecedented pressure to digitize operations, with claims processing being a critical pain point. By integrating FastTrack's patent-pending automation technology with RGA's extensive client network, this partnership could significantly accelerate digital adoption across the industry. The focus on life insurance and waiver of premium products is especially noteworthy, as these areas have traditionally been resistant to technological innovation due to their complexity.
The partnership's potential impact on RGA's business model is substantial:
- Revenue Enhancement: By offering enhanced digital capabilities to clients, RGA can potentially capture additional revenue streams beyond traditional reinsurance services
- Operational Efficiency: The automation of claims processing could lead to significant cost reductions and improved accuracy in claims assessment
- Competitive Positioning: This move strengthens RGA's position as a technology-forward reinsurer, particularly important as insurtech companies continue to disrupt the traditional insurance landscape
A critical aspect of this partnership is its scalability potential. FastTrack's patent-pending technology suggests proprietary advantages that could create substantial barriers to entry for competitors. For RGA's shareholders, this represents a strategic investment in future-proofing the company's service offerings while potentially expanding its addressable market.
The emphasis on joint engagement in identifying and serving insurance carriers indicates a well-structured go-to-market strategy. This approach could accelerate adoption rates while ensuring proper implementation and value realization for clients, potentially leading to faster revenue recognition from these new digital services.
This collaboration will leverage the strengths of both organizations, combining RGA's expertise in reinsurance and claims management consulting with FastTrack's experience in life and life waiver of premium workflow automation and life claims system technology. By aligning these complementary capabilities, the partnership aims to drive innovation, propel growth opportunities, and enhance client experiences for both organizations.
"RGA is focused on driving digital transformation initiatives that impact the entire life insurance lifecycle. This partnership enables intelligent automation capabilities across life insurance and waiver of premium product," said Senan O'Loughlin, Executive Vice President, Head of
"We are excited about this strategic partnership with RGA," said Thomas Capato, CEO & Cofounder, FastTrack. "Through this collaboration, we are not only expanding our capabilities but also delivering greater value to our customers. Together, we are poised to innovate and drive growth, and we look forward to a successful partnership that will benefit all stakeholders and set new benchmarks in our industry."
RGA and FastTrack recognize the life and disability insurance vertical's keen focus on enhancing customer claim experiences combined with a continuous pursuit to improve operational processes. As part of the agreement, RGA and FastTrack will join forces in identifying insurance carriers that will benefit from the collaboration. Thereafter, both companies are committed to a joint engagement process, which will provide life and life waiver of premium insurance carriers the opportunity to execute their digital transformation strategies, realize operational and financial improvements, and provide an enriched customer claim experience.
About FastTrack
FastTrack – a division of Kamine Technology Group (KTG) – has been a market leader in providing intelligent, automated claims management solutions and services to the Life & Disability insurance vertical since 2012. Headquartered in
FastTrack's comprehensive suite of made-for-insurance Intelligent Automation Tools is revolutionizing claim management/process, freeing up mission-critical resources and vastly improving the claims journey experience for claimants, beneficiaries, employers, agents/brokers, examiners, and more. Key performance advantages include the elimination of up to
For more information, please visit: FastTrackRTW.com
About RGA
Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA is today one of the world's largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, RGA empowers partners through bold innovation, relentless execution, and dedicated client focus – all directed toward creating sustainable long-term value. RGA has approximately
For further information, please contact:
Ellie O'Brien
FastTrack
389206@email4pr.com
908-470-2191
FastTrackRTW.com
Follow FastTrack on LinkedIn
Lizzie Curry
Executive Director, Public Relations, RGA
636-736-8521
389206@email4pr.com
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SOURCE FastTrack
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