Welcome!

News Feed Item

FINEOS Acquires Six New Customers in Disability & Life

FINEOS Corporation, the market leading provider of best-in-class claims management software, announced today that it acquired six new customers in the second half of 2012. The six insurance organizations, three in North America and three in Australia, will use FINEOS Claims to streamline their disability, life, and supplemental health claims processes, helping achieve more efficient, effective and competitive claims management.

In the US, FINEOS now counts nine of the top forty Life and Health carriers as customers with similar market penetration seen in Canada and Australia.

The announcement coincides with the release of FINEOS version 7.5, a landmark release which combines FINEOS’ feature-rich claims management platform with industry best practice processes. It includes a newly designed user interface (UI) and a comprehensive set of out-of-the box features to improve ease of use and promote faster adoption.

Commenting on today’s announcement, CEO of FINEOS, Michael Kelly said, “The addition of six new customers and the release of FINEOS 7.5 consolidate our global market leadership in the Life and Health industry. FINEOS Claims is a full feature ‘out-of-the-box’ claims system which is delivered with industry best practice business content, documentation and business training to enable organizations to quickly exploit the product within their business. The system can be configured and implemented quickly for the large enterprise carriers as well as smaller claims organizations and this is testament to the maturity, leadership and solidity of the product.”

FINEOS 7.5 offers the following key enhancements:

  • Automation of complex payment-related calculations including US FICA, FIT & SIT taxes, partial & optimum earnings offsets, index-tracking cost of living adjustments (COLA) and statutory interest on payment of a death benefit
  • Pre-configured processes to manage each stage in the claims lifecycle including information gathering from third parties, eligibility rules, mandated timeframes for the initial claim decision, benefit approval authority limits and associated workflow and low-touch processing.
  • Pre-configured claim intake scripts designed for use in both a call center environment and in the back-office where the ability to transcribe rapidly from a manually completed paper claim forms is key.
  • New Vocational Rehabilitation Plan component to the electronic claim file, providing a structured approach to the vocational rehab process from planning through goal-setting to the measurement of outcomes.
  • New Claimant Viewpoint providing 24/7 self-service access to live claim status and payment data, as well as secure document submission and messaging facilities.
  • New User Interface built using HTML 5 to create an ultra-clean look to improve user efficiency. Key information is available at-a-glance with fewer clicks to access common actions and navigate around a multi-benefit claim. A single chronological view is provided of all events and activity that have taken place over the life of a claim.
  • Ability to use solution on a desktop or tablet is fully supported out-of-the-box.

FINEOS CTO, Jonathan Boylan added, "FINEOS 7.5. enables Disability and Life insurers to benefit from the massive investment we have made in features and capabilities, allowing them to get up and running quicker. This solution offers a compelling option for insurers using increasingly costly legacy systems or those dealing with the challenges of systems not designed especially for Disability and Life claims”.

About FINEOS Corporation

FINEOS is a market leading provider of core software solutions for Insurance and Government Accident Compensation Insurance. Our flagship product, FINEOS Claims, is the insurance industry’s best-in-class solution for all, Life, Disability and Accident Compensation claims. Established in 1993, the company delivers innovative solutions to a global market and has customers, employees and established bases in North America, Europe, Africa and the Asia Pacific markets. For more information, visit www.FINEOS.com

###

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
I’m going to cry tonight, long and hard. I’ll do so as I remember and mourn Jeremy Geelan. I knew Jeremy for almost 20 years, from the time he showed up one day at Cloud Expo’s headquarters in Bergen County, New Jersey, and went to work. The show wasn’t called Cloud Expo then, of course – it was still known as Java Edge, a pioneering event that grabbed developers, architects, and enterprise IT users alike for twice-yearly confabs. Jeremy didn’t have a job there, or even a job offer. He was s...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captu...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...