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FINEOS claims solutions for the london market

FINEOS Claims solutions for the London Market streamline back-office processes, automate low value work and deliver adaptability to changing market demands - all while helping provide consistently exceptional customer service.

Our solutions:

• Provide comprehensive claims management capability, complementary to, and consistent with, ECF and Lloyd’s minimum standards
• Provide a rules-based environment, allowing rapid changes by users
• Speed up claims settlement and cut down the level of paper
• Enhance decision support based on better quality and transparency of information
• Support the processing of subscription and company market claims on a common system

The claims environment in the London Market is changing rapidly. The last few years have seen the introduction of electronic claim files and the drive to deliver greater parts of the claims process through technology. With the introduction of ECF2, triggers and binder support in 2010/11 there is no doubt that we will see a still greater pace of change in claims handling in the near future.

Traditional London Market software providers have done a good job in servicing the market’s unique broking and underwriting requirements, but claims functionality has been limited to reporting and basic data capture. This is not sufficient to deliver service expectations at an affordable cost.

As a result, more and more brokers, insurers, reinsurers and service providers are seeking to introduce their own internal claims management solutions based on modern, flexible and low cost software, and FINEOS Claims is well placed to meet this demand by delivering:

• successful segmentation
• competent governance
• enhanced customer experience
• increased choice
• better information and auditability
• greater transparency
• business agility

FINEOS Claims solutions for the London Market are configurable to support all major lines for brokers, underwriters, reinsurers, run off companies, loss adjusters and other service providers, including but by no means limited to:

• Marine & energy
• Aviation
• Accident & health
• Financial lines
• Property & construction
• Surplus
• D&O liability
• Personal insurance
• Reinsurance

FINEOS Claims solutions for the London Market are built on an open service-oriented architecture (SOA) that integrates easily within an existing legacy environment. To learn more about our flexible technical architecture, click here.