Insurance Technology Featured Article

Konnect Net Reduces Health Insurance Processing Times

October 05, 2012

Konnect Net recently unveiled pioneer technology for the health insurance industry. Processing times in the health insurance industry will be considerably reduced with this latest technology. The company is one of the premier providers of business process management solutions and services and is based in Auckland, New Zealand.

Konnect Net’s IT system, which connects insurers, medical practices and insurance advisers, will ensure a reduction in development time for medical insurance applications by at least 50 percent. Since its inception in 2008, Konnect Net’s objective was collection of medical information from doctors. According to Hamish McLachlan, Director at Konnect Net, a considerable amount of time was previously spent in gathering this information, as every insurer had a unique, paper-based and intricate system.

Konnect Net had initially unveiled its offering, SureMed for the health insurance industry. SureMed is now complemented with SureApp, a solution for insurance selling agents, and SureClaim, a solution for assisting claim handling.

The current systems utilized by insurance advisers and doctors, including paper-based systems can connect to the Konnect Net system. All the problems and shortcomings faced by the health insurance industry including privacy have been tackled by Konnect Net, making it a very popular option.

In a statement, McLachlan said, "We got a big chunk of the market on board once we went live to the point now where we have almost all insurers and banks using our services because the proof is it is just that much better."

According to McLachlan, Konnect Net now aims to penetrate the Australian market, as it can leverage its recognized track record with the New Zealand ancillaries of key Australian-owned insurers.

The winners of the Entrepreneurs' Challenge organized by the University of Auckland Business School can win a maximum of USD$ 0.82 million. Konnect Net, one of the five finalists, aims to utilize the funding for accelerating expansion plans in Australia. Rangatira, a Wellington-based investor, has already invested USD$ 2.88 million into Konnect Net.

McLachlan said, "We've been testing services in the New Zealand market, bedding them down, understanding the issues in broader markets so the future is about pushing offshore and that's one of the reasons we see the Entrepreneurs' Challenge as being such a great opportunity for us."

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Austin 2012, happening now in Austin, TX.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Insurance Technology Articles

MediaAlpha Launches Direct-to-Quote (DTQ) to Improve Online Consumer Experience

A report released by SNL Financial from data compiled in June of 2014 revealed the insurance industry as a whole spent more than $6 billion in advertising in 2013. While TV, radio and print have limited reach as to how consumers interact with the content, online advertising is the perfect medium to further that interaction into potential sales. And with the increased adoption of smart mobile devices, there are more opportunities for advertisers to create engaging ads that deliver tangible result… [ Read More ]
04/22/2015

Trinity Health Implements athenaOne to Improve Operational Performance and Increase Value to Patients

Trinity Health, a multi-institutional Catholic healthcare delivery system, has entered a partnership with athenahealth, a provider of cloud-based healthcare services, to deploy the athenaOne solution into some of Trinity Health's physician network offices. This solution will effectively help the organization boost revenue, gain valuable insights, streamline patient interactions and reduce administrative work. [ Read More ]
04/16/2015

Infosys: Insurance Must Take Customer-Centric Approach to Technology

A new survey by Infosys has found that insurance companies need to pay more attention to the customer experience as they improve their digital strategies. [ Read More ]
04/15/2015

GetInsured Launches Lean State-based Marketplace Model

One of the biggest changes in U.S. governmental policy as of the last decade is in the passing of the Affordable Care Act. Also known as Obamacare, ACA makes state-based health coverage mandatory for many U.S. citizens, and it allows states to either run their health exchanges through the federal government or through their own marketplaces. [ Read More ]
04/14/2015

Events

Weekly Live Demo
Contact Center Solutions

Register Today!