FINEOS launches in North America with new disability product

February 15, 2001 - Portland, Maine - Managed Solutions Corporation (MSC), one of the world's fastest growing providers of enterprise software solutions for banking and insurance, has announced its presence in North America with a change of name to FINEOS.

FINEOS provides a targeted set of solutions for insurance and banking companies that incorporates CRM (customer relationship management), contract administration, and product and claims management systems. The company has mapped its solutions to different user roles, areas of business functionality, thus providing a customer-centric view of these business processes across a client's enterprise.

For the launch in North America, FINEOS has developed its product line with a focus on the disability insurance market, in addition to its other product solutions which include insurance administration and workflow. FINEOS Disability is a multi-channel, intake and claims management system that addresses and improves upon several key areas: the customer service experience, the claims management and decision- making process, along with productivity and expense levels.

From an industry perspective, FINEOS Disability allows efficient and effective management of customer relationships through direct, real-time access to information residing on legacy host systems, and cuts administration costs by automating manual tasks and providing web self-service. The product is also designed to improve customer satisfaction by providing 24 x 7 customer service across all channels, and enables greater efficiency through automatic decision support.

Commenting on this innovative new product, Leo Corcoran, FINEOS Senior Vice President for Business Development in North America, said:,

"As insurance and banking is a very broad market, we have adopted a strategy with a focus on disability insurance and claims management. FINEOS Disability specifically addresses contact, workflow and process solutions in the disability claims arena that have been overlooked until now. Our team of disability experts here at FINEOS, all of whom have years of disability and insurance experience, are well equipped to support our entire range of solutions, and continue the establishment of a very credible market presence for the company."".

FINEOS, which already enjoys a customer list comprising of some oof the leading financial institutions in Europe, is looking to build on its success with the launch of FINEOS Disability for the North American market.