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Ward Graffam joins FINEOS Board of Directors

Ward Graffam joins FINEOS Board of Directors

New Appointment to support Global Expansion

FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, today announced the appointment of Mr Ward Graffam as non-Executive Director to the company’s board of directors.

Mr. Graffam, a lawyer by profession and an insurance veteran with over 40 years of national and international experience, has previously held legal and executive positions with UNUM Corporation. Prior to his retirement, he was based in London and was President and Managing Director of UNUM European Holding Company, responsible for UNUM’s European Insurance business. He was also Chairman of UNUM UK and a Senior Vice President of UNUM America in the U.S. Today Mr Graffam is a member of several for-profit and non-profit boards of directors and a consultant to various businesses on strategic issues. UNUM is the North American market leader in both group and individual disability insurance and group long-term care.  It has also been recognized as the U.K.’s leading disability insurer for the last eleven years. The appointment of Ward Graffam will strengthen the FINEOS management team as it continues its aggressive plans for global expansion. In 2008, Sean Dorgan, formerly CEO of the Irish Development Authority, also joined the FINEOS Board.

Michael Kelly, CEO FINEOS Corporation, welcomed the election of Ward Graffam to the board.  “Ward’s experience, industry perspective and practical knowledge of the insurance sector will be of immense value to FINEOS. We value the advice and guidance of our enhanced board of directors which will be instrumental to the future growth and strategic direction of FINEOS.”

Commenting on his new role at FINEOS, Ward Graffam said, “I am delighted to be joining the FINEOS team at such an exciting time in its development. In a short few years, FINEOS has moved to a market leadership position in disability claims management within North America and has a very strong multi-line claims offering globally. During my career, I have championed the use of innovative technology to solve the challenges faced by insurers so it is an honour to be able to make a contribution to such a world-leading company as FINEOS.”

FINEOS has been showing strong performance in the last twelve months. The company expanded its team in North America with the appointment of Ray Matthews as Senior Vice President and Head of Sales for North America, and Randall Day as Head of Claims Solutions.  Other recent noteworthy developments have been:

  • the signing of four new deals with top tier insurance clients in South Africa, North America and Europe
  • go-lives at over 12 client sites
  • continued increase in year on year revenues and profits
  • growth in employee headcount by almost 20%
  • winner of the ICT Company of the Year award.