LOS ANGELES, Calif. /California Newswire/ — Traffk(TM), the Los Angeles art district-based insurance technology company, is excited to announce the acquisition of Portland, Ore.-based Capsci Health. Capsci Health’s HIPAA compliant, mobile technology platform personalizes health plan members’ benefits, allowing them direct access to their plan’s benefits, ID cards, preferred providers and telemedicine.
The addition of Capsci Health’s mobile capabilities enables underwriting and risk management to occur at the individual health plan member level by combining Traffk’s massive data analytics and insurance underwriting technology with individual member level insights and communications.
“This acquisition is another critical component of Traffk’s end-to-end insurance technology solution providing for massive, individualized data collection, analysis of that data through AI, machine learning and proprietary algorithms, and the development of next generation insurance products and services that are personalized, sustainable and actionable,” Traffk co-founder, Paul Ford, said.
Capsci’s CEO, Chris Logan, is equally optimistic and offered, “We are excited to leverage our mobile technology into Traffk’s existing platform and pipeline to allow the true potential to be realized.”
Ford continued that, “Traffk’s efforts to create the unique capability of synthesizing enormous amounts of data into actionable items for improved insurance underwriting and population health management is now magnified by the ability to directly communicate with and affect consumer behavior in a completely secure environment.”
Robert Milligan, the Traffk board member who oversees mergers and acquisitions, commented, “Not only is this a brilliant strategic product move, but working with the capable principals of Capsci led to a creative structure of debt and equity that’s of great benefit to each company’s shareholders.”
Traffk(TM) modernizes the insurance underwriting process with more accurate data insights and risk profiling that allows risk-bearing companies or health plans to manage profitability, risk, market growth, cross-lines sales, marketing and compliance. Its SaaS platform enables an organization to deploy data mining, analytics and rules automation to manage risk, pricing and utilization.
Traffk helps insurance-related companies manage, use and expand their data to improve underwriting accuracy, manage risk, realize market growth and retention and create data-optimized solutions and product offerings. The insurance-optimized risk management platform is powered by insurance experts, data scientists, machine learning and AI.
* Data aggregation and management. It collects, integrates, analyzes and transacts data on its SaaS platform. It’s HIPAA-compliant and has successfully passed numerous technology assessments and security platform reviews.
* Traffk Risk Index. It transforms cloud data into actionable, dynamic, multi-variant indexes. Its predictive and responsive, insurance-optimized risk modification index and insights use clients’ proprietary data, as well as its rich public information database and proprietary algorithms.
* Consumer risk profiles. It indexes membership into risk profiles to enable efficient and dynamic pricing, risk reduction and underwriting.
* Marketing mining. It helps make data actionable, driving deeper understandings of client and/or consumer tendencies and decision characteristics.
News Source: Traffk LLC