FINEOS named 2008 ICT Company of the Year

Award based on clear strategic direction, sound financial foundations and successful execution of a business plan

FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, has been named Company of the Year at the annual Information and Communications Technology (ICT) Excellence Awards. The award is given to the company that, in the opinion of the judges, most demonstrates clear strategic direction, sound financial foundations and solid execution of a business plan. FINEOS was presented with the award following an evaluation of over one hundred companies in the software, information technology and communications sectors. In selecting FINEOS, the judges highlighted FINEOS’ recent outstanding performance and strong growth in 2007 which included expansion of the client base in North America, Europe and Australasia, as well as the acquisition of its first South African client.

“This is a wonderful accolade for FINEOS”, said Michael Kelly, CEO, FINEOS Corporation. “I am very proud of the efforts of our employees, clients and partners in helping us achieve our true potential. It is also a testament to the versatility of FINEOS solutions to meet the requirements of insurers globally. We will continue to invest in opening up new markets for our products and ensuring that we deliver world-class solutions that meet the most pressing needs of the insurance industry now and well into the future”.

FINEOS Claims is at the heart of FINEOS’ recent success. It is the only claims solution in the market today that has been successfully implemented globally across property & casualty, life & health as well as government public insurance programs including workers compensation, bodily injury and transport accident. The solution has shown strong momentum recently with client announcements at leading insurers including Mutual of Omaha (North America), Principal Financial Group (North America), Royal Bank of Canada (North America), Quinn-direct (Ireland), Delta Lloyd (Netherlands), Transport Accident Commission (Australia), CommInsure (Australia), BT Insurance/Westpac (Australia) and the Road Accident Fund (South Africa).

This is the first time that FINEOS has been named ICT Company of the Year but not the first time that the company has been acknowledged by industry associations and analysts.  In March of this year, FINEOS client, the Accident Compensation Corporation (ACC) of New Zealand, was selected by independent analyst group, Celent, as an example of best practice in claims automation in their report, Model Carrier 2008: Case Studies of Effective Technology Usage in Insurance.  Research firm, Forrester, also noted in its case study on FINEOS client, Delta Lloyd, (Delta Lloyd’s New Claims Management Model Brings Operational Efficiency) that “the level of functionalities of the FINEOS system is unique in the market”. Finally, in 2006 FINEOS was named leader in the Software and International Services category at the Irish Exporters Association Awards.

FINEOS Staff Collect ICT Award


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