FINEOS to supply Delta Lloyd with Claims Management System

Implementation to reduce costs and improve service in personal injury division of Dutch financial services provider

September 2, 2002 - Dublin - FINEOS Corporation, the leading innovator of banking and insurance software, has just signed a Euro 1 million contract to supply Delta Lloyd in the Netherlands with its multi-channel intake and claims management system. The deal with Delta Lloyd NV, a member of the international insurance group AVIVA plc (formerly CGNU plc), represents the first sale of FINEOS Claims Management in Europe which was formally launched in July.

The FINEOS system will enable Delta Lloyd to fully automate and streamline its personal injury claims process, thereby reducing the manual costs associated with processing these claims and improving customer service. Set to go-live in December 2002, FINEOS Claims Management will fully automate all contact, workflow, case and document management and the bulk of the many error-prone, manual tasks associated with claims handling. From claims data capture through all stages of case management, the system will co-ordinate and manage the various parties in the personal injury claims process, including insured parties, victims, solicitors and medical experts.

Seamless integration with back-office policy administration systems will ensure that claims personnel can access consolidated customer, policy and involved-party information and documentation in real time, regardless of the channel through which claims intake is conducted. Full case management capabilities will allow Delta Lloyd to track and control the progress of each claim, while intelligent workflow will automatically route and manage claimants' tasks and control the flow of claim-related data. In addition, the FINEOS system will allow all documentation relevant to each claim to be created, stored and recalled instantly from the case contact history.

The increased efficiency deployed by the FINEOS system will enable Delta Lloyd to significantly reduce the costs associated with processing claims and the company expects that the system will pay for itself within a year. At the same time, it will decrease the amount of time necessary to service a claim and enhance the claimant's experience of the whole process.

Commenting on the announcement, Jan Jonker, Director of the General Insurance Division of Delta Lloyd, said: "The FINEOS system will allow us to improve two key areas within the claims management process: efficiency and service. With increased efficiency, we will be able to reduce the time and cost that is involved with our current claims processing environment, greatly increasing our competitiveness. Perhaps, more importantly, we will be able to significantly increase the levels of service we can deliver to our customers. Personal injury claimants do not want the added pressure of poor service from their claims handler, so the enhancements that the system will deliver in this area will have a great impact on our customers' claims experience."

Michael Kelly, CEO, FINEOS, said: "I am delighted with Delta Lloyd's decision to go with our Claims Management system. This represents the first endorsement of our claims offering in Europe, following great success in the US, and clearly highlights the strength of our proposition. By addressing the critical cost and service issues facing claims handlers, the system will continue to provide powerful differentiation to forward-looking and innovative insurers such as Delta Lloyd."

With industry analysts Datamonitor calculating that $1.8 billion will be spent on claims processing in Europe by 2004, this latest FINEOS deal is another milestone in the company's strategy to become the number one global provider of claims management systems. The Delta Lloyd deal follows the recent market launch of FINEOS Claims Management for the property and casualty insurance sector in July.