QInsure Goes Live with FINEOS Claims

FINEOS Corporation (ASX:FCL), the market-leading provider of group and individual core systems for life, accident and health insurance, today announced that QInsure, the insurance arm of QSuper, one of Australia’s largest and most respected superannuation funds, has successfully gone live with FINEOS Claims.The QInsure and FINEOS partnership will bring about changes focused on foundational operational uplift including improved, integrated and automated processes and workflow for claims covering life, TPD and income protection. Key highlights of the program included automatic payment calculations and FSC Code of Practice solutions that help case managers deliver on the insurance promise and meet regulatory obligations. The overarching philosophy focussed on member-centric claims outcomes including automated claims management with FINEOS embedded analytics and integrated generation of correspondence to members. Speaking about the project, Chief of QInsure, Phil Fraser said, “We ran a comprehensive RFP and completed a lot of due diligence to choose FINEOS as our partner. The collaborative partnership has been extremely positive, and the project has delivered high quality results. We achieved this by both parties providing strong leadership and governance, working very closely across business and IT, and sticking assiduously to FINEOS’ comprehensive out of the box solutions. We are already seeing one of the key objectives of this program come to life in our streamlined claims processes, enabling our Claim Managers, to be freed up from routine administrative tasks to focus on providing even more excellent outcomes to QSuper members.”Michael Kelly, CEO, FINEOS added, “This has been an exciting project for us in Australia and we have enjoyed working with QInsure to assist them improve their service even further. FINEOS has the market leading product and a very strong local team that has established trusted relationships with some of the largest and most respected insurers across the ANZ region – with well over 10,000 licensed users locally, our product helps process millions of claims each year. We pride ourselves on a laser-like focus on adding business value and are delighted to add Qinsure to the growing and thriving FINEOS community.”

FINEOS lists on the Australian Securities Exchange

FINEOS Corporation Holdings plc (ASX:FCL), a leading provider of group and individual core systems for life, accident and health insurance, today announced the commencement of trading on the Australian Securities Exchange (ASX) via an initial public offering (IPO). The total number of securities (CHESS Depository Interests or “CDIs”) on offer was 84.4 million at a price of A$2.50 per CDI. Total gross proceeds from the offer amounted to A$211 million.
FINEOS intends to use the net proceeds from the IPO to invest further in R&D to grow the FINEOS product footprint and develop new business lines, to invest in additional sales, marketing and client account management capabilities and to pay down existing debt and shareholders selling down.Key areas of growth strategy for FINEOS include:
• Increase our product penetration and introduce new products within the existing client base;
• Maintain technology leadership and continued product innovation of the entire FINEOS Platform.

FINEOS Announces APAC Summit for 2019

FINEOS Corporation, the market-leading provider of group and individual core systems for life, accident and health insurance, will hold its FINEOS APAC Summit in Sydney, Australia, on 23 May in the Westin Hotel. The Summit offers high quality content and practical learning and networking opportunities to attendees. For more information on how to register, please visit the FINEOS website.The Summit theme is ‘“Transform Core Systems to Deliver Excellent Digital Customer Experience” and will feature presentations from FINEOS customers, partners and industry thought-leaders with ample opportunity for customer interaction and collaboration. The keynote will be given by Dr Martin Fahy, CEO of the Association of Superannuation Funds of Australia (ASFA) who will examine how the insurance landscape can deliver the changes needed to restore public trust and confidence in the category. Jonathan Boylan, FINEOS CTO and David Fodor of Amazon Web Services, will co-present a session looking at how FINEOS Cloud can be implemented to enhance delivery of digital service.EY is the sponsor for this year’s APAC Summit. In his presentation “A Perfect Storm – Surfing Big Waves of Change to Successfully Transform”, Andy Parton, Partner at EY, will examine the results of EY’s recent survey of Australian Life Insurance executives looking at business and technology challenges facing insurers.

FINEOS to Present and Exhibit at Eastern Claims Conference

FINEOS Corporation, the market-leading provider of group and individual core systems for life, accident and health insurance, will present and exhibit at the Eastern Claims Conference taking place in Boston, MA from March 31 to April 2 2019.The Eastern Claims Conference is an educational conference devoted to Life, Disability, Accidental Death and Dismemberment and Accident and Health Claims Management. The program is designed to serve a broad target market, from entry-level associate personnel to senior management. The ECC’s only function is to present an annual conference for the benefit of those who serve the insurance industry in the claims handling process.On the opening morning of the conference, David Schulman, FINEOS and Rob Waterman, MassMutual, will present “Life Claim Automation”. As insurance companies look to expand capabilities in the digital space while automating the Life Insurance Claims process, the need to identify and authenticate parties to the claim and detect situational claim fraud, becomes critical to the process. In the session, Mr. Schulman and Mr. Waterman will discuss how this space is changing and what companies can do to improve with the use of various automation tools.In an ever-changing landscape of shifting federal, state, and municipal regulations, absence management grows exponentially more complex. FINEOS Absence simplifies the complexity, automating processes around both paid and unpaid absences. FINEOS Absence integrates seamlessly with FINEOS Claims, HRIS, and third-party systems.The flagship product, FINEOS AdminSuite is designed specifically for the Life, Accident and Health market. A comprehensive, flexible and agile suite, it includes absence, billing, claims, payments, policy and provider. FINEOS AdminSuite is built on the robust FINEOS Platform and is designed to connect to the partners and digital platforms that increasingly define the insurance landscape.FINEOS staff will be available throughout the event and would love to meet there to discuss how FINEOS can assist with your next project.