Amalgamated Life's goal is to further enhance its best in class practices and risk management through the comprehensive automation of its life waiver claims and adjudication process
BEDMINSTER, N.J., Oct. 28, 2014 /PRNewswire/ — FastTrack RTW Services & Solutions, a division of Kamine Technology Group, LLC, announced that Amalgamated Life Insurance Company of White Plains, New York, a leading provider of insurance solutions including group life, disability and medical stop loss, has become the latest Life Waiver Tools client.
Amalgamated Life will look to improve its Best in Class Practices and operational risk management profile by standardizing and automating their life waiver claims administrative tasks and adjudication processes through use of FastTrack's Life Waiver Tools.
The FastTrack Life Waiver process inputs key restrictions and limitations data from the claimant's medical provider into an advanced Physical Capabilities Form (PCF). The PCF is then compared against a specialized and validated occupational library to identify the claimant's ability to perform his or her own occupation or any occupation, based on the terms of the claimant's policy. Further analyses can be specified based on the claimant's gainful wage, Training, Education and Experience (TE&E) and geographic criteria as underwritten. This next generation automation enhances, standardizes and speeds the waiver of premium adjudication process, while providing comprehensive assessment data to the insurer's benefit specialist to make optimal claim adjudication decisions.
In addition to licensing FastTrack's Life Waiver Tools software, Amalgamated Life will also utilize FastTrack's Claim Administrative Services to perform specific administrative tasks, which will allow their claims personnel to focus on core adjudication decision-making functions.
"At Amalgamated Life, we are continually improving in order to maintain the highest standards of quality in operations and customer service," said Executive Vice President of Sales and Marketing John A. Thornton. "By integrating advanced technologies such as FastTrack's Life Waiver Tools, we can streamline and enhance our processes to facilitate optimum outcomes."
Carl Capato, FastTrack's Senior Vice President of Strategic Risk Management Solutions commented, "We are very excited to welcome Amalgamated Life as FastTrack's newest Life Waiver Tools Customer. We believe there is strong synergy between Amalgamated's risk management goals and our own products and services, which will greatly benefit both parties." Capato went on to say, "With the many significant additions to our Life Waiver Tool client base this year, there is no doubt that the industry believes the time has come to establish stronger waiver of premium best practices through assistive technology as it significantly enhances the current waiver of premium claim evaluation and adjudication processes."
About Amalgamated Life
Amalgamated Life is a leading provider of comprehensive insurance solutions. Founded in 1943, Amalgamated Life has a long history of serving diverse businesses, unions, and health and welfare funds. In 2014, the company earned its 39th consecutive "A" (Excellent) Rating from A.M. Best Company. Amalgamated Life is a member of the Amalgamated Family of Companies which includes: Amalgamated Agency, a property and casualty brokerage; AliCare, a third-party administrator; AliCare Medical Management, a medical care management firm; AliComp, a mainframe outsourcing and Information Technology solutions provider; and AliGraphics,a full-service printing and mailing company. Amalgamated Life Insurance Company is located at 333 Westchester Avenue, White Plains, NY 10604. For more information, visit: www.amalgamatedlife.com.
About FastTrack RTW Services & Solutions
The FastTrack RTW Services & Solutions Division (FastTrackRTW.com) of Kamine Technology Group, LLC helps the insurance vertical proactively enhance its Return-to-Work and Risk Management programs with a comprehensive suite of tools. The FastTrack tools are utilized by Short/Long Term Disability, Life and Workers Compensation insurance carriers, Self-Insured Employers and TPA providers as integral parts of their Return-to-Work and Risk Management initiatives. FastTrack's goals are to help speed the return of claimants/injured workers to their existing employers, find them new employment opportunities when occupational changes are required and to assist carriers to more effectively adjudicate claims from a Risk Management perspective.
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