FINEOS streamlines claims management operations for public agency
FINEOS Corporation, a global provider of innovative componentized software solutions for the insurance, government social insurance, and banking industries, today announced that the Accident Compensation Corporation (ACC) of New Zealand has gone live with the initial pilot of its FINEOS implementation. This is the first step in a broader business transformation initiative that ACC undertook to improve operational efficiency and adaptability.
During the initial rollout, 400 users across New Zealand are using FINEOS, internally referred to as EOS for “new beginnings,” to process bodily injury, work cover, and other workers’ compensation claims. The first live week using EOS concluded with more than 2,000 new claims being processed efficiently and without incident.
ACC provides personal injury cover for all New Zealand citizens, residents and temporary visitors to New Zealand on behalf of the government. The organization embarked on the enterprise-wide project in a move to prepare for future business needs. Dr. Jan White, Chief Executive, ACC, explains that the FINEOS solution is a vital step forward in ACC’s efforts to provide high-quality services to claimants and providers. In replacing their legacy systems, ACC is seeking to achieve:
- A flexible and business configurable system, which allows ACC to implement change in a timely manner
- A system that supports the identification and implementation of business improvement opportunities, and allows ACC to action these
- Transition towards a paperless office environment, with all claimant-related information available electronically
- Transparent and structured information on claimants being managed, including improved functionality to support more consistent achievement of rehabilitation outcomes
- A more comprehensive and consistent framework for making payments to claimants and providers
“ACC has successfully implemented the first phase of the FINEOS strategic claims management solution, which will enable the replacement of our legacy claims system with a flexible, forward-looking IT platform. The first wave of users has been successfully transitioned to the new FINEOS system, and staff have enthusiastically adopted the improved work practices. The remaining 2,000 staff will be progressively transitioned by mid-2007,” says Dr. White. “FINEOS has shown themselves adept at working with ACC, other software vendors and our outsourcing providers to deliver an integrated solution. We are looking forward to working with FINEOS to complete the ACC-wide rollout, and to begin realizing the productivity and process improvement gains we are anticipating from this state-of-the-art system.”
FINEOS was selected for the project because its rules-driven, componentized platform will support ACC as they grow and change their business in response to market conditions. Additional business process management capabilities within the system, including straight-through processing and workflow, can be used to ensure consistency of process across the business, improving accuracy and efficiency.
“ACC is an example of how a government sponsored institution can be proactive in preparing for the future by ensuring efficiency is maintained even as business increases in volume and complexity,” said Michael Kelly, CEO, FINEOS Corporation. “This live rollout is the successful culmination of a very involved project and both organizations should be extremely proud.”
The project has been designed to help ACC transition to a virtually paperless environment, although paper-based forms are still available to users during the initial transition. The FINEOS solution is fully web-based, allowing EOS users to access claimants’ files from their desktops without installing resident software.
Over the course of the project, EOS has been seamlessly integrated with eight existing systems, spanning areas such as document management, security, provider and employer management, and general ledger systems. This tight integration allows for necessary data to be accessed by EOS users in real-time, through a single interface.
The Accident Compensation Corporation (ACC) administers New Zealand’s accident compensation scheme, which provides personal injury cover for all New Zealand citizens, residents and temporary visitors to New Zealand. ACC is a Crown entity responsible for preventing injury, collecting personal injury cover levies, determining whether claims for injury are covered by the scheme and providing entitlements to those who are eligible, paying compensation, buying health and disability support services to treat, care for and rehabilitate injured people, and advising the government. It provides accident cover, injury prevention services, case management, medical and other care and rehabilitation services.