NEW YORK – Jan. 14, 2020 – Kryon®, a leading robotic process automation (RPA), process discovery and AI solution provider known for the unique Kryon Full-Cycle Automation™ suite, and LTCG, a third-party administrator for long term care, today announces the outcome of their latest innovative collaboration. LTCG has successfully streamlined insurance applications, billing/administration and claims processing using the Kryon Automation Suite, reaping the full benefits of the exclusive Process Discovery™ tool along with unattended RPA capabilities.
Following the successful deployment of Kryon’s unattended RPA in 2018, LTCG sought to adopt a more robust solution and turned to Kryon Process Discovery™. This new emerging technology in RPA solution development has recently and successfully expanded the scope of LTCG’s automation project, reaching additional divisions of the organization. Kryon Process Discovery™ actively identifies, analyzes and optimizes processes within LTCG’s different departments for easy automation evaluation and then generates the automation for RPA development. The team was able to uncover 83 unique processes that were perfect candidates for automation.
“Kryon’s full-cycle automation solutions have enabled us to accelerate many aspects of our business administration, seeing improvements of up to 70% proficiency with the highest degree of accuracy and delivery,” said Justin Kruse, RPA Lead at LTCG. “We recognize the huge value that Kryon Process Discovery™ delivers in conjunction with RPA, and we’re certain that our working relationship with Kryon will help us to boost our digital efficiency quickly and easily.” LTCG’s utilization with RPA is expected to double within the next year with great growth potential in things like cognitive services and departmental expansion. “The next milestone on our automation journey is to proliferate our RPA footprint and make it possible for a larger audience and all departments to identify key business processes and automate them,” Kruse added.
Kryon Process Discovery™ is the first product of its kind on the market, and the only one to exist as part of an end-to-end RPA and automation suite. It offers enterprises an exceptionally effective way to reduce costs and increase operational efficiencies. Businesses are now able to efficiently scale-up and accelerate RPA adoption, reaching higher ROIs, lower TCOs and an overall enhanced customer experience, all while empowering employees to direct their time and energy towards more customer oriented and profitable tasks.
Harel Tayeb, CEO of Kryon, talks about the successful collaboration with LTCG by saying, “We’re very proud to witness the success that LTCG has experienced with our full-cycle automation suite. We look forward to continuing our partnership with LTCG to help them increase ROI, minimize costs and maximize efficiency within their company. LTCG has been a trailblazer with this emerging technology and exemplifies how companies can scale automation already in place. Our solution allows our customers to better streamline their business processes and generate significantly higher revenues, and is easily tailored to their specific needs, goals and processes,” Tayeb said.
Kryon is a leader in enterprise automation, offering the only platform on the market which encompasses both Process Discovery technology and Robotic Process Automation (RPA). The Kryon Full-Cycle Automation™ solution maximizes ROI and cuts RPA implementation time by up to 80 percent. Powered by proprietary AI technology, Kryon Process Discovery™ automatically generates a comprehensive picture of business processes, evaluates them and recommends which ones to automate. Kryon offers desktop-based attended RPA, virtual-machine-based unattended RPA or a hybrid combination of both. The company’s award-winning suite is used by enterprises worldwide, including AIG, Allianz, Deutsche Telekom, Ernst & Young, Ferring Pharmaceuticals, HP, Microsoft, Santander Bank, Singtel Optus, Verizon and Wyndham Hotel Group.
LTCG is the leading provider of administrative solutions and clinical services to the long-term care and life insurance industry, with over two decades of experience in this space. LTCG currently manages over one million policies and serves more than 100 carriers nationwide. The company addresses all types of customer needs and policy requirements—from application processing and underwriting of new business to claims and administration of open and closed blocks. LTCG’s advanced data analytics, actuarial and risk management capabilities and unmatched industry expertise can help organizations manage their business and develop emerging products such as hybrid life/long-term care policies. LTCG also provides clients with unique risk management insights built upon the industry’s largest database of long-term care underwriting and claims outcomes and helps carriers bend the cost curve through innovative provider solutions and wellness programs. For more information, visit www.LTCG.com.