Mission-Driven Health Care Insurer Renews and Modernizes its IT Operations with edgeTI

Rhea-AI Summary

Edge Total Intelligence Inc. (OTC: UNFYF) announces a three-year renewal and conversion to subscription software in the Health Care Insurer segment. This collaboration marks over five years of partnership, enhancing operational efficiency for U.S. healthcare insurers facing challenges such as rising costs and regulatory changes. Key executives express pride in the renewal, which aims to improve customer service through better governance processes. This update follows recent advancements in generative AI and recognition of the company's Digital Twins technology, underscoring its commitment to operationalizing AI for improved customer experiences.

Positive

• Three-year renewal contract enhances long-term revenue stability.
• Transition to subscription model potentially increases recurring revenue.
• Strengthened relationship with a leader in health care solutions indicates trust and reliability in edgeTI's offerings.

Negative

• None.

Renewal Lays Groundwork to Operationalize AI and Further Digital Twins

ARLINGTON, Va., April 04, 2023 (GLOBE NEWSWIRE) -- Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV:CTRL; OTC: UNFYF; FSE:Q5i), a leader in real-time digital operations solutions, is pleased to announce a three-year renewal and conversion to subscription software in the Health Care Insurer segment.

“Our connection with this leader in health care solutions began more than five years ago,” said Nicholas Brigman, edgeTI’s VP of Products. “It’s gratifying to see this provider continue to drive awareness and value in their delivery of services to millions of members in the United States.”

U.S. healthcare insurers face a variety of challenges, including rising costs, increasing competition, changing regulations, and the need to increase customer satisfaction according to McKinsey & Co. Rising costs are primarily driven by the increasing cost of medical care and pharmaceuticals, as well as the rising cost of operating a health insurance business. Making governance processes and operations more visible and efficient enables more focus on customer service.

“Helping insurers such as this and providers like the Veteran’s Administration is rewarding in the ever-evolving health care delivery landscape,” said Jacques Jarman, Chief Revenue Officer of edgeTI. “We are very proud of the work our team has done to meet this customers’ specific needs — giving them the confidence to renew for another three years."

Today’s announcement follows the Company’s recent press releases regarding generative AI support of ChatGPT and industry analyst recognition for Digital Twins. edgeTI believes these advances will help customers operationalize AI and create digital twins of their organization that extend business value and improve customer experiences.

About edgeTI

edgeTI helps customers sustain situational awareness and accelerate data-driven action with its real-time digital operations software, edgeCore™. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid composable experiences via the platform's low-code development. With edgeCore, customers improve their margins and agility by rapidly transforming siloed systems and data across evolving, complex situations in business, technology, and cross-domain operations — helping them achieve the impossible.

Traded on: TSXV: CTRL, OTCQB: UNFYF, FSE: Q5i

Website: https://edgeti.com
LinkedIn: www.linkedin.com/company/edgeti
YouTube: www.youtube.com/user/edgetechnologies
Twitter: www.twitter.com/edge_suite

For further Information contact:

Nick Brigman
Phone: 888-771-3343
Email: ir@edgeti.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information and Statements
Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the edgeTI, including but not limited to, completion of due diligence by the lender, business, economic and capital market conditions.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the edgeTI will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, the impact of viruses and diseases on the Company's ability to operate, competition and general economic, and market or business conditions. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What is the recent announcement from Edge Total Intelligence regarding UNFYF?

Edge Total Intelligence Inc. announced a three-year renewal and conversion to subscription software in the Health Care Insurer segment, enhancing operational capabilities.

How does the renewal impact Edge Total Intelligence's business?

The renewal strengthens revenue stability and establishes a recurring revenue model, indicating sustained demand for edgeTI's solutions.

What challenges do U.S. healthcare insurers face that edgeTI addresses?

EdgeTI helps U.S. healthcare insurers tackle rising costs, increasing competition, and regulatory changes through improved operational efficiency.

How long has Edge Total Intelligence been working with its healthcare partner?

Edge Total Intelligence has been collaborating with its healthcare partner for over five years.

What advancements has Edge Total Intelligence made in AI technology?

EdgeTI has recently focused on generative AI and digital twins, enhancing operational capabilities for its clients.