Leading Specialty Insurance Provider Invests $2.8 Million in Kofax Software

Solution Improves Compliance, Minimizes Manual Processes, Increases Productivity and Reduces Costs

Kofax® Limited (NASDAQ: KFX) (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a leading provider of specialty insurance has invested $2.8 million for Kofax TotalAgility®, Kofax Altosoft Insight™ and services with the goals of improving compliance, minimizing manual processes, increasing productivity and reducing costs associated with new account enrollments and invoicing.

The company is a leading provider of specialty insurance in partnership with financial institutions, mortgage lenders, manufactured home sellers, auto finance companies, property managers and their customers. Kofax was selected as part of a major corporate initiative to transform processes associated with more than 50 million documents annually.

“Before purchasing the Kofax solution, this specialty insurer used an internally developed capture solution that worked but was sub optimal and exposed it to potentially large fines and other compliance issues,” commented Howard Dratler, Executive Vice President of Global Field Operations at Kofax. “Kofax TotalAgility will automate the insurer’s current processes and significantly improve operational efficiency and compliance. In addition, the company will be able to deliver continuous improvement by leveraging the process intelligence provided by Kofax Altosoft Insight.”

Kofax TotalAgility is the first unified smart process application development and deployment platform that includes multichannel capture, business process and case management, data integration, advanced analytics and mobility in a single platform. TotalAgility provides an essential link between an organization's systems of engagement and systems of record to help increase responsiveness to customers, improve service levels and gain competitive advantage in order to better manage and grow businesses while greatly reducing operating costs.

Kofax Altosoft Insight™ features rapid, no-coding development of near real-time reporting and dashboard applications. It provides real-time, extremely low latency process and data analytics, visualization and ETL (extract, transform, load) capabilities for data and process analytics.

This sale closed in October, was one of the seven figure transactions that slipped from the quarter ended September 30, and included approximately $1.8 million in software license revenue and $1 million in professional and maintenance services.

About Kofax

Kofax is a leading provider of smart process applications for the business critical First Mile of customer interactions. These begin with an organization’s systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in financial services, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.

© 2014 Kofax Limited. Kofax and TotalAgility are registered trademarks and First Mile and Kofax Altosoft Insight are trademarks of Kofax Limited.

Source: Kofax

Kofax LimitedMedia Contact:Laura BrandlinDirector, Communications+1 (949) [e-mail] Contacts:MKR Group Inc.Todd Kehrli, +1 (323) [e-mail] ConsultingChris Lane, [phone] [e-mail]