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Standard Insurance Company (Portland, Ore.) has selected FastTrack (Bedminster, N.J.) as a primary technology platform to support claim processing needs for the company’s group long term disability (LTD) claims, individual disability (IDI) claims, group life and group life waiver claims.The Standard will use FastTrack’s Disability Risk Management Tools, Life Risk Management Tools and Claims Readiness Services to support the end-to-end claims process.
“We believe FastTrack provides a strong fit to help us deliver better capabilities and stronger tools to our employees that serve our LTD, Life and IDI customers,” comments Dan McMillan, VP, Insurance Services Group, The Standard. “We see FastTrack as a partner that can help us deliver more value to our customers and better solutions to our employees.”
FastTrack describes its suite of solutions and services as helping insurers triage and fully understand their claim management options. FastTrack drives process automation by utilizing digital data collection and lifting, robotic processing automations (RPAs), and artificial intelligence (AI). The vendor says its technology makes possible automated occupational matching and comprehensive data analytics to establish next-generation claims administration best practices.
Comprehensive and Customizable
“We are pleased The Standard has chosen to expand its work with FastTrack to include their group long term disability, individual disability and group life claims processes,” comments Thomas Capato, CEO, FastTrack. “We believe the comprehensive and customizable nature of FastTrack’s technology will help enhance the already industry-leading service The Standard offers to their employer customers and their employees.”