FINEOS Claims to Manage and Support the Complete Claims Lifecycle
FINEOS Corporation has announced that FINEOS Claims has been selected by Friends First as the new solution to manage claims and payments arising from its Income Protection (Disability Insurance) operation. Friends First, a wholly-owned subsidiary of Eureko, a pan-European insurance group with total assets of €93 billion, is one of Ireland’s leading insurers. The company will use FINEOS Claims to support and manage the complete claims lifecycle for income protection. It is anticipated that the deal will come in under €500,000 and go live in approximately six months.
According to Conor O’Brien, Chief Operations Officer at Friends First, “We chose FINEOS Claims because of the superior capabilities it offered us around the management of income protection claims. Key for us was the integrated FINEOS Claims and Payments modules which allow us to handle increasing claims volumes and complex, long-tail claims. We were also impressed by the demonstrable expertise that FINEOS has in income protection globally. We look forward to delivering an improved customer service and enhanced operational efficiency”.
FINEOS Claims delivers streamlined processing from intake to determination of eligibility, through resolution or closure. By enforcing rules-driven workflow management and process automation, Friends First can use the system to automate many claims related activities leading to increased efficiencies and improved service to the customer.
Friends First is the latest addition to the growing list of top tier insurers using FINEOS Claims for Income Protection (Disability Insurance). The solution is used by SalusAnsvar (Sweden), Royal Bank of Canada (Canada), ASEBP (Canada), and ING, Principal Financial Group, Assurant, Lincoln Financial Group and Mutual of Omaha (USA).
Michael Kelly, CEO FINEOS Corporation, welcomed the new deal with Friends First. “We are delighted to be chosen by Friends First. Now more than ever, insurers need to focus on the service they deliver to their customers while keeping a close watch on their operational costs. We believe that the award of this contract to FINEOS is a testament to the strength of our solution as the most functionally rich, end-to-end system available on the market today”.