Revolutionizing Health & Life Insurance: Qantev and INSTANDA Join Forces for Transformation

Revolutionizing Health & Life Insurance: Qantev and INSTANDA Join Forces for Transformation

In today’s competitive landscape, artificial intelligence (AI) is revolutionizing the insurance industry, particularly in claims management. A recent partnership between Qantev, an AI-driven claims management platform specializing in health and life insurance, and INSTANDA aims to enhance operational efficiency for insurers through an integrated solution.

Transforming Insurance with AI and No-Code Solutions

The collaboration between Qantev and INSTANDA addresses pressing challenges that insurers encounter, such as:

  • Accelerating product launches
  • Automating claims processes
  • Enhancing customer satisfaction

Streamlined Policy Administration and Claims Processing

By leveraging INSTANDA’s no-code policy administration capabilities alongside Qantev’s AI-powered claims management, insurers gain significant advantages:

  • Improved operational efficiency
  • Enhanced decision-making with advanced data analytics
  • Swift product launches and automation of essential insurance processes
  • Increased claims accuracy through AI-driven insights

This partnership also focuses on critical aspects such as fraud detection, waste management, and network performance optimization, empowering insurers to minimize costs and streamline workflows. Tarik Dadi, CEO and founder of Qantev, emphasizes the importance of this collaboration, stating, “By combining INSTANDA’s agile product development with Qantev’s AI claims management features, we are setting a new standard in the industry.”

Addressing Industry Challenges

The current landscape presents a “perfect storm” for healthcare insurers, characterized by:

  • Rising operational costs
  • Medical inflation
  • Post-COVID backlogs
  • Chronic diseases
  • An ageing population
  • Increased demand for insurance services

These factors contribute to the growing complexity of claims management, making it essential for insurers to adopt innovative solutions. Dadi further noted, “Our partnership is a step forward in enhancing the performance of health and life insurers globally using cutting-edge AI.”

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Future Prospects for Insurers

Will Wood, director of life and health insurance at INSTANDA, added, “The life and health insurance sector is overdue for technological revamp. Our joint technologies will empower insurers to:

  • Increase revenue
  • Streamline operations
  • Reduce costs
  • Deliver exceptional customer experiences

This partnership marks a significant milestone in the ongoing evolution of the insurance industry, showcasing the potential of AI in transforming claims management and policy administration. For more information on how AI is reshaping the insurance landscape, visit Insurance Journal.

Explore more about Qantev and their innovative solutions on their official site: Qantev.

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