End to End Claims Management System for Life and Income Protection Delivered in 10 Months
FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance and government insurance, today announced the successful implementation of the FINEOS Claims solution for Disability and Income Protection Insurance at SalusAnsvar, one of Sweden’s leading life assurance companies. The company is using the FINEOS solution to support and manage the complete claims lifecycle for life, income protection (disability), accident and sickness claims from first notification through to final settlement and resolution. The go-live of FINEOS Claims, completed on November 24, 2009, took less than 10 months from contract closure and was successfully achieved on time and on budget without any major disruption to normal business processes.
Ulf Nilsson, Managing Director of SalusAnsvar Group Life Company welcomed the go-live. ”I’d like to congratulate both the SalusAnsvar and FINEOS teams on their hard work and commitment in getting this project live. We have replaced an end of life legacy system with a market-leading solution that aligns with industry best practice. We are now positioned to quickly adapt to changes in the business environment without reliance on external parties or specialist technical knowledge. Moreover, FINEOS is helping us deliver savings in claims processing overall especially in the area of indexation of payments and reserves”.
SalusAnsvar is the latest addition to the growing list of top tier insurers using FINEOS Claims for life and income protection. In North America, FINEOS is the market leading provider of life and disability claims solutions with a long list of prestigious carriers already using FINEOS in these lines of business. This includes the Royal Bank of Canada, ING, Principal Financial Group, ASEBP, Assurant and Mutual of Omaha. FINEOS offers enhanced capabilities around the management of long tail disability claims where the emphasis is on case management and complex and variable payment schedules to handle numerous interactions over time with multiple associated parties.
Michael Kelly, CEO, FINEOS Corporation, also welcomed the go-live. “We welcome SalusAnsvar as our first FINEOS Claims for disability user in Sweden and look forward to further market expansion within the Scandinavian region. It’s great to see SalusAnsvar take such a proactive and innovative approach to claims management and we have been impressed by their people and their commitment to excellence. We look forward to continue to work with the team to achieve the productivity, cost savings and improved customer service that we know FINEOS Claims will help deliver. SalusAnsvar is yet another example of why FINEOS is the leading global vendor in claims management solutions for life, disability and income protection insurance”.
About SalusAnsvar Group Life Company
SalusAnsvar Group Life Company is one of Sweden’s largest Group Life Assurer companies. SalusAnsvar Group Life Company is part of SalusAnsvar AB which offers banking and insurance services to private individuals. SalusAnsvar AB operates as a subsidiary of DnB NOR Bank ASA. For more information, please visit please visit www.salusansvar.se.