Wolters Kluwer Financial Services will incorporate its insurance compliance information and analysis with Fineos Claims for workers’ compensation, a technology solution that helps insurers automate claims-related activities.
Fineos Claims for Workers’ Compensation has been expanded to offer capabilities developed specifically for the US market, including preconfigured business content in areas such as fraud detection and medical management.
The claims processing system offers insurance carriers, third party administrators (TPAs), self-insureds, state funds and other government entities a complete claims lifecycle management system that includes intake, payments, reserves and provider management.
Through the relationship with Fineos, Wolters Kluwer Financial Services can help more insurers access its trusted regulatory and compliance content.
Michael Kelly, CEO at Fineos said: “US workers’ compensation is an underserved market facing significant issues, including medical inflation, indemnity costs and complex regulation. Given the potential risks and challenges of the US regulatory environment, it’s essential for claims handlers to have sophisticated processing systems that provide compliance reference material to guide their decision making.”
David Evans, vice president and general manager of insurance at Wolters Kluwer Financial Services, said: “This relationship allows Fineos to leverage its expertise in the critical area of claims management technology, while bringing Wolters Kluwer Financial Services’ deep compliance knowledge to its customers doing business in the US.”
Wolters Kluwer Financial Services is a provider of insurance compliance tools that help professionals identify, understand and comply with US insurance regulation.