Partners Life Selects the FINEOS Platform for Claims
February 24 2021 - 4:00PM
Business Wire
FINEOS Corporation (ASX:FCL), the market-leading provider of
group and individual core systems for life, accident and health
insurance, today announced that Partners Life, following a
comprehensive market evaluation of Claims Management System
vendors, has selected the FINEOS Platform for life insurance and
medical claims.
The Partners Life and FINEOS partnership will bring about
changes focused on replacing existing claims systems and processes
with a differentiated value proposition. This will bring key
operational benefits such as efficient, integrated and automated
workflow processes and accurate claims covering life, TPD, trauma,
income protection and medical products.
Speaking about the selection, Tracey Lonergan, Partners Life
Chief Claims Officer said, “Claims service is at the core of
Partners Life’s business and so when we looked for a credible
provider it was important that the provider had the capability,
experience and infrastructure to deliver and support a Claims
Management System that would integrate into the Partners Life
ecosystem. Also important to us was that the selected vendor come
with a strong record of successful implementations and strong
support of its Claims Management System within the New Zealand and
Australian life and health insurance industry. FINEOS met these
requirements. Our initial collaboration has been extremely
positive, and we envisage that the project will deliver high
quality results”
Commenting on the deal, Michael Kelly, CEO, FINEOS added, “We’re
delighted that Partners Life has selected to partner with FINEOS
and adopt the FINEOS Platform for life insurance and medical
claims. The FINEOS Platform includes a market tested,
pre-configured pack for the region known as LISA (Life Insurance
Solutions Australasia). This is an exciting project for us in New
Zealand and we look forward to a fast and smooth system
implementation to enable the benefits of using FINEOS as early as
possible thereby delivering a high-level service to its customers
and independent financial advisers across New Zealand.
The FINEOS Platform provides a comprehensive SaaS end to end
core solution for the Global Life, Accident and Health market. Key
to the solution is the rich functionality that underlies FINEOS
AdminSuite, FINEOS Engage and FINEOS Insight, a common set of
capabilities including workflow, rules engine, customer management,
no-code/low-code configuration tools, a standardized API connection
and the cloud environment powered by AWS.”
About FINEOS Corporation Limited
FINEOS is a leading provider of core systems for life, accident
and health insurers globally with 7 of the 10 largest group life
and health carriers in the US as well as 6 of the largest life
insurers in Australia. With employees and offices throughout the
world, FINEOS continues to scale rapidly, working with innovative
progressive insurers in North America, Europe, and Asia
Pacific.
The FINEOS Platform provides clients full end to end core
insurance administration and includes the FINEOS AdminSuite core
product suite as well as add-on products, FINEOS Engage to support
digital engagement and FINEOS Insight for analytics and
reporting.
For more information, visit www.FINEOS.com.
About Partners Life
Partners Life is proud to be a New Zealand operated company.
Like many Kiwi companies, they began with humble beginnings as a
small start-up in 2011. Since then, they’ve become a recognised
industry leader in life and health insurance. Their rapid rise to
the top has only been made possible because of the strong
partnerships they've built over time with their customers and with
independent financial advisers across the country. That's why
they're called Partners Life.
Their focus is on protecting Kiwi families and businesses.
People need insurance when their lives are negatively affected by
ill-health or death. This can be an incredibly stressful time for
them and their families. By working with independent financial
advisers, their customers can be confident that they have insurance
tailored to fit them. This gives them the very best chance of
getting their claims paid quickly and without any hassles. Their
insurance products include life insurance, income protection,
medical insurance, disability insurance, trauma cover and business
risk protection.
They're an industry leader that Kiwis trust. Find out about the
Solvency and Financial Strength of Partners Life.
For more information, visit https://www.partnerslife.co.nz/.
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version on businesswire.com: https://www.businesswire.com/news/home/20210224005877/en/
Victoria Jamison Marketing Manager FINEOS Corporation + 353 1
639 9700 victoria.jamison@FINEOS.com
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