FINEOS Claims solution is expected to bring improved, integrated and automated processes at QInsure
QInsure, the insurance arm of QSuper, an Australian superannuation fund, has gone live with FINEOS Claims, a web-based insurance claims management software solution.
With FINEOS Claims, QInsure is expected to bring changes to foundational operational uplift such as improved, integrated and automated processes and workflow for claims covering life, TPD and income protection.
To help case managers deliver on insurance promise and in meeting regulatory commitments, some of the key features provided by the partnership include automatic payment calculations and FSC Code of Practice solutions..
The partnership will enable automated claims management with FINEOS embedded analytics and integrated generation of correspondence to members.
QInsure chief 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.”
The software solution is claimed to increase the company’s knowledge on customers, which could help in retaining them.
FINEOS Claims can optimise claims process to meet changing circumstances
The solution can optimise and reconfigure the claims process to meet changing circumstances and can accurately forecast reserves. It can offer full and detailed audit trails and can automate standard processes.
The solution can reduce claims duration, while improving reserve accuracy through tight claims tracking and enhanced claims management.
FINEOS CEO Michael Kelly said: “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.”