FINEOS launches new web-based Broker and Agent Portal solutions

November 5, 2001 - Dublin - FINEOS, one of Europe's leading providers of enterprise solutions for banking and insurance, has just released a set of web-enabled broker and agent portals specifically designed for banking and insurance companies.

The relationship and transactional management applications will provide independent, tied and employed agents with secure, personalised and 24x7 self-service capability. By enabling access to insurance and banking databases, the solutions will allow brokers and agents to access and maintain a single, up-to-date view of their customers and prospects and carry out a range of processes. These include managing new business pipelines, providing information on existing accounts, updating customer information, delivering quotations and completing questionnaires. The portals will also enable a variety of requests to be submitted, including policy applications, alterations and claims.

For banks and insurance companies, the portals will cut administration costs by reducing call centre traffic and by eliminating time-consuming, error-prone paper processes. Efficiency is also improved with workflow automation orchestrating the flow of information, triggering follow up-tasks, making automatic acceptance decisions and scanning and indexing paper. The upshot of which is radically improved service levels with quicker turnaround times on everything from alterations to proposal capture.

"The improved level of service delivered by these portals will greatly strengthen the relationships between financial services organisations and their intermediaries," said Michael Kelly, CEO of FINEOS. "Banking and insurance companies require effective electronic commerce models that make it easy for the agent and broker to do business with them. By creating operational efficiencies around the business writing processes, eliminating paper-based transactions and creating up-sell and cross-sell opportunities, our portal solutions will deliver more control to brokers and ultimately increase their confidence in the financial institution they do business with."

Built on FINEOS TA, an open framework for portal development which integrates back-office systems with front-office business operations, the FINEOS Broker and Agent portals can be easily integrated with any industry-standard technical infrastructure.