Welcome!

News Feed Item

Alberta School Employee Benefit Plan Announces Successful Implementation of FINEOS Payments Component Solution

FINEOS Corporation, a market leading provider of core software solutions for the global Life, Accident and Health Insurance industry, announced today that its customer, Alberta Schools Employee Benefit Plan, has successfully implemented the FINEOS Payment Component Solution. The Alberta School Employee Benefit Plan, ASEBP, is a Health and Welfare Trust operating in Alberta, Canada. A long standing FINEOS customer for over ten years, ASEBP has been using FINEOS Claims for their employee benefit plan and also for Master Data and Customer Management to give a Single View of members. They chose FINEOS for the Payments after paying visits to both Manitoba Public Insurance, (MPI), and Manitoba Teachers’ Society, (MTS), to see their implementations of the FINEOS Payments system.

ASEBP faced a risk with their reliance on an outdated mission-critical service that handled disability payments to their members and fed into the premium and reserve setting for the benefit plan. It was essential to replace this system with a reliable and modern payments component that integrated easily with their overall claims operation.

The Solution: The FINEOS Payments component can be implemented stand-alone or as part of the FINEOS Product Suite. It provides a comprehensive, configurable process for handling payments of all types, including processing everything from simple one-off payments to complex, long-tail payments that change over time. It has automated procedures for dealing with over-payments and under-payments and generates detailed audit trails of all financial movements. FINEOS Payments simplifies complex processes typically supported by multiple technologies, spreadsheets and desktop calculations bringing accuracy, reliability and speed. Its configurable calculations may be controlled centrally ensuring that new processes and limits are easily rolled out and automatically used in all cases.

The Approach: ASEBP and FINEOS agreed that stringent project management was paramount to the success of the project and understood that both parties’ philosophies regarding overall project methodology would require accommodation. These were successfully melded and a suitable hybrid approach was adopted to meet everyone’s needs. Timelines and related milestones were identified and reported on weekly; subject matter experts were on-boarded, budgets were set, reporting and change request frameworks were laid out and the project began on July 4, 2013 with a delivery date set for June 1, 2014.

The Result: The FINEOS Solution went live on June 1 2014 – on time and under budget even though the project accommodated change requests. Accuracy of the FINEOS Payments component was confirmed with parallel running on the old system which showed a 100% success.

According to Jennifer Carson, Executive Director ASEBP, “We have realized gains in process management almost immediately. It is our firm belief that our organization and our members whom we serve will benefit greatly from the move to the FINEOS solution. We have every confidence that this will serve us successfully for many years to come. This project has enabled us to solidify relationships with both internal and external ASEBP resources and importantly with the FINEOS team with each having very strong mutual respect and appreciation for each member’s contribution.”

Commenting on the successful upgrade, Michael Kelly, CEO, FINEOS Corporation said, “We are delighted that ASEBP chose FINEOS to replace their payments system. This confirms to us that our approach of working closely with our customers and integrating FINEOS staff sensitively with the customers’ teams brings dividends for us all. We are pleased that ASEBP is now planning to capitalize on the momentum of this implementation and continue working with the current resources from both organizations to capitalise on the latest version of FINEOS – Release 8.0. This will enable them to take advantage of all of the R&D investment which goes into our products. We are delighted that so many of our customers are now on the latest versions of FINEOS. In today’s fast moving competitive landscape software products must offer users full business functionality, business content as well as the configurability and flexibility to enable speed and agility to support the changing needs of the business.”

About ASEBP

ASEBP is the Alberta School Employee Benefit Plan, a Health and Welfare Trust operating in Alberta, Canada. It has been in business for over 45 years Providing health benefits and related services to 54,000 teachers and other education workers in the public education sector, and their dependents. ASEBP also provides third party administration services to another 10,000 participants and their dependents. For more information, visit www.asebp.ab.ca.

About FINEOS Corporation

FINEOS is the leading claims solution for the global Life, Accident and Health insurance industry and supports the processing of Life, Disability, Critical Illness, AD&D, Waiver and a number of related lines. FINEOS supports both group and individual business claims on a single platform and can be used by organizations of all sizes, from small departmental claims teams to very large teams with thousands of users and millions of claims. FINEOS currently works with over 50 insurance carriers and counts six of the top 20 Life & Health carriers in the US and four of the top Life & Health carriers in Australia as customers.

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
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Deploying applications in hybrid cloud environments is hard work. Your team spends most of the time maintaining your infrastructure, configuring dev/test and production environments, and deploying applications across environments – which can be both time consuming and error prone. But what if you could automate provisioning and deployment to deliver error free environments faster? What could you do with your free time?
SYS-CON Events announced today that Hitrons Solutions 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. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom 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. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
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...
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
SYS-CON Events announced today that StarNet Communications 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. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...