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FINEOS to Provide Canada's Largest Bank with Insurance Claims Management Solution for Disability Insurance

RBC speeds up claims processing times for clients

FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and social insurance, today announced that Royal Bank of Canada (RBC) has put FINEOS Claims in place for its disability insurance business. Implemented in conjunction with IBM, a multi-year contract provides RBC with a claims system that is directly designed to provide enhancements in straight-through processing and to improve operational efficiencies especially in the area of claims cycle times. Al Tinney, Senior Vice-President and Head of Insurance Technology, RBC, said, “These enhancements will directly benefit our clients by shortening the time it takes to process their claims.” Michael Kelly, CEO, FINEOS Corporation, added, “We are very pleased to have the opportunity to add RBC to our growing client base. The success of FINEOS Claims, especially in the disability insurance space, is important to our continued expansion. We are confident that FINEOS Claims will deliver clear competitive benefits to RBC.”