FastTrack Announces Patent Pending Status for Claim Decision Readiness (CDR) Technology

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Aug 13, 2024, 08:32 ET

BEDMINSTER, N.J., Aug. 13, 2024 /PRNewswire/ -- FastTrack, a leader in technological innovation for the life and disability insurance vertical since 2012, is excited to announce that its latest Claim Decision Readiness Technology has been granted patent pending status by the United States Patent and Trademark Office (USPTO). This significant milestone underscores the unique capabilities of FastTrack's latest invention, poised to disrupt the life and disability insurance claims processing workflow landscape.

The patent pending technology, Claim Decision Readiness (CDR), represents a culmination of more than a decade of research, development, and ingenuity. This innovative solution promises to revolutionize the life and disability insurance vertical, offering unprecedented benefits and capabilities to insurance carriers processing life and disability claims from a workflow perspective.

Key highlights of Claims Decision Readiness technology include:

Unmatched Performance: Claim Decision Readiness sets new standards for performance, reducing claims administrative processing times by 40%.

Enhanced Efficiency: By streamlining processes and optimizing workflows, Claim Decision Readiness significantly boosts productivity and efficiency, enabling life and disability carriers to achieve more with less.

Advanced Features: Claim Decision Readiness incorporates cutting-edge technology such as Robotic Processing Automation and Machine Learning, setting it apart from existing solutions in the market.

Scalability and Adaptability: Whether for life, long term disability or waiver of premium claims, Claim Decision Readiness technology offers scalability and adaptability to meet diverse needs and requirements.

Receiving patent pending status for Claim Decision Readiness reaffirms FastTrack's commitment to innovation and its dedication to pushing the boundaries of what is possible in life and disability vertical. This milestone also represents a significant step forward in protecting FastTrack's intellectual property and securing its position as a leading insurtech services & solutions provider.

Thomas Capato, CEO & Cofounder, stated, "We are thrilled to announce the patent pending status for Claim Decision Readiness. This recognition underscores the novel and inventive nature of our technology, as well as the hard work and dedication of our team. We believe that Claim Decision Readiness is well-positioned to modernize the life and disability vertical workflow process, and we are excited to continue its development."

About FastTrack:

FastTrack – a division of Kamine Technology Group (KTG) – has been a market leader in providing intelligent, automated claims management solutions and services to the Life & Disability insurance vertical since 2012. Headquartered in Bedminster, N.J., FastTrack's unique blend of smart technology and decades of insurance subject-matter expertise has secured key partnerships with many of North America's leading group and individual insurance carriers.

FastTrack's comprehensive suite of made-for-insurance Intelligent Automation Tools is revolutionizing claim management/process, freeing up mission-critical resources and vastly improving the claims journey experience for claimants, beneficiaries, employers, agents/brokers, examiners, and more. Key performance advantages include the elimination of up to 90% of manual administrative tasks, the implementation of auto-administrative and auto-adjudication pathways, the creation of data-rich digital claimant profiles that reduce risk and accelerate claim decisions by 30-40%, and direct savings on carriers reserves and interest expenses.

For more information, please visit: FastTrackRTW.com