FINEOS AdminSuite is an integrated core processing system that consists of absence, claims, payments, billing, policy, and provider administration – all of which are configurable to operate independently or optimally as a full core suite as part of the SaaS delivered FINEOS Platform
FINEOS Corporation (ASX: FCL), announced that Cigna Group Insurance (CGI) and FINEOS collaborated to be the first in the U.S. employee benefits industry to develop and broadly implement the FINEOS Policy and FINEOS Billing components of FINEOS AdminSuite. As a long-time user of FINEOS Claims and a recent launch partner of FINEOS Absence for IDAM, CGI collaborated with FINEOS to deliver the complete FINEOS AdminSuite – the most advanced digital core solution for administering group and voluntary benefits.
“The FINEOS and Cigna Group Insurance collaboration makes a great deal of sense,” said FINEOS CEO Michael Kelly. “Together we have innovated and delivered FINEOS AdminSuite as a brand new solution that enables CGI to make the most of industry and technology advances to improve their client and customer experiences. Employee benefit carriers know they must move beyond legacy core systems to leverage new digital business models and technologies.”
“CGI has achieved an industry-first technology position with the first complete FINEOS AdminSuite implementation on the FINEOS Platform powered by AWS,” said Matt Marze, Chief Information Officer, Cigna Group Insurance. “FINEOS AdminSuite combined with other complementary cloud technology investments enable CGI to provide best-in-class benefits administration for our employer clients and their employees today while keeping pace with future market demands.”
“CGI’s employer clients and their employees can expect to benefit from a unified, streamlined, and more personalized service experience with best-in-class self-service for both employers and their employees,” said Eoin Kirwan, VP, Product Management, FINEOS. “Employers and their employees will benefit from richer and substantially streamlined interactions with CGI, reduced overall administrative burden, and more integrated experiences that are consistent across all group benefits. Connectivity between FINEOS AdminSuite and the leading HRIS and payroll platforms will further advance data integration between these ecosystems.”
Employee benefits companies are looking for new ways to provide new digital engagement capabilities to their customers and service chain partners, while continuing to provide accurate and scalable support for an increasing range of products. Older core insurance systems are not designed for the speed and flexibility required in today’s market and may struggle in the future, even if paired with modern systems of engagement for digital service.
FINEOS AdminSuite is an integrated core processing system that consists of absence, claims, payments, billing, policy, and provider administration – all of which are configurable to operate independently or optimally as a full core suite as part of the SaaS delivered FINEOS Platform. Also included in the FINEOS Platform are FINEOS Engage for API-enabled digital engagement and FINEOS Insight for real-time analytics that utilize core system data to enable business insights and automation.
“FINEOS and Cigna Group Insurance continue to collaborate closely on FINEOS AdminSuite. CGI brings deep industry knowledge and an innovative mindset to the product development build,” said Eoin Kirwan. “CGI’s business insight and willingness to work closely with us on blending advanced digital capabilities and essential insurance processes helps make FINEOS AdminSuite and the FINEOS Platform the choice to replace legacy systems.”
Source: Company Press Release