Insurance consulting firm Xceedance has launched a new digital claims third-party administrator (TPA) featuring advanced and intelligent automation.

The new product provides full-service claims operation services to global insurers and aims to close claims faster and improve visibility into claim handling and status.

The new TPA leverages Xceedance’s full suite of insurance, technology, and operational capabilities.

The Xceedance Claims TPA launch is led by US-based claims innovation expert James Maddiona, who joined the company in June as Head of Claims after more than 25 years at AIG.

The “disjointed nature” of the claims process creates a lack of transparency into the status of claims, the adjustment process, and barriers to effective communication between stakeholders, he says.

“Instead of a fragmented process, we have created a seamless, end-to-end claims management experience that provides our clients visibility into each claim process in real-time,’ Mr Maddiona said.

The new TPA was expected to lower costs for insurers and enhance the policyholder experience.

Domiciled in Bermuda, Xceedance has offices in Australia, the US, UK, Liechtenstein, Switzerland, Poland and India. It helps insurers launch new products, drive operations, implement intelligent technology, deploy advanced analytic capabilities and achieve business process optimisation.