Market Overview

TIS Wins ~$200K eFLOW5 Upgrade Contract at Leading Pan-African Insurance Provider


Top Image Systems, Ltd. (NASDAQ: TISA), a global innovator of intelligent content processing solutions, announced today that TIS has signed a contract with a leading Pan-African financial services company with presence in 16 African countries serving 2.5 million clients and properties covering 1.1 million square meters. TIS will upgrade the company's eFLOW implementation to take advantage of TIS' most advanced technology eFLOW5. The upgrade project is valued at some $200,000.

Providing a range of insurance and financial products including asset management, health coverage, investment portfolios and retirement funds, the customer deployed eFLOW in 2005 to increase the efficiency of its omni-channel claims processing operations for its health insurance line of business. In a tender, eFLOW was selected over its competitors for its technological superiority and broad functionality. Since that time the customer has employed eFLOW to process several hundred thousand semi-structured medical claims forms and related documents each year.

Seamlessly integrated with the customer's core insurance and CRM system, eFLOW aggregates all types of handwritten and print documents and forms collected from agents and customers via web, email, fax, post, etc., then extracts, prioritizes and routes the critical business data to the appropriate people and systems to enable accelerated claims processing.

The insurance provider decided to upgrade to eFLOW5's state-of-the-art technology to deliver to its customers the best possible customer experience, increasing responsiveness and shortening claims processing duration. The upgrade is expected to improve recognition rates, increase efficiency and enable compliance with increasingly strict industry and governmental standards and regulations. Targeted to go live in early 2016, the project will incorporate eFLOW5's enhanced capabilities for performance monitoring and eFLOW5's web-based scanning and validation are under consideration.

"As the reputation and proven success of eFLOW5 gains exposure in the market, TIS continues to grow its presence in key document-driven industry sectors in Europe and Africa such as banking and insurance," comments Barry Richards, Managing Director, TIS EMEA. "We are proud that by deploying excellent software and services, we can deliver on our promise to our customers to help them transform their business processes to better compete and thrive in the digital economy."

Posted-In: News Contracts Press Releases


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