FINEOS announced the launch of the FINEOS Administration Suite, a full service Policy, Claims, and Billing software solution.
The suite has been designed for the demands of the new benefits market and will provide best in class functionality for Group, Voluntary and Individual Policy administration on a single platform while also supporting self-admin, full-admin and TPA models.
Michael Kelly, CEO, FINEOS, welcomed the launch. "We are delighted to make this announcement today. As a vendor committed to the Life, Accident and Health industry, we believe there is a gap in this market for a modern technology solution.
"The FINEOS Administration Suite offers insurers the opportunity to introduce a modern customer-centric insurance system into their complex, legacy insurance architectures with less risk and more immediate business value."
The expansion into Billing and Policy is based on the capabilities of the FINEOS Digital Platform, a powerful customer-centric and business services platform that is proven at over 50 insurance customers globally and incorporates over 20 years domain expertise.
Speaking today at the launch of the FINEOS Administration Suite at the LIMRA Enrollment Technology Seminar, Chuck Johnston, Chief Marketing Officer, FINEOS, described the changing landscape for employee benefit insurers.
Market pressures to introduce new product/distribution models have necessitated new front-office systems that can be implemented quickly, accurately and cost effectively.
FINEOS is a market leading provider of core software solutions for Insurance and Government Accident Compensation Insurance.