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FINEOS Launches Enhanced Claims Solution for the London Market

Landmark release offers a full feature “out-of-the-box” claims system

FINEOS Corporation, a market leading provider of claims management software products today released the latest version of FINEOS Claims for the London Market.  The system, designed specifically to meet the needs of subscription based insurance organisations, follows the implementation of the FINEOS Claims at a number of leading Managing Agencies.  The enhanced solution offers a full feature “out-of-the-box” claims system which is delivered with London Market specific business content, extensive documentation, and integration with third party applications such as Policy Administration, Microsoft SharePoint and Outlook. In combination with complementary implementation and training materials, FINEOS has enabled organisations to quickly deploy and exploit the product, as well as greatly reducing the cost and effort to upgrade.

This landmark release improves ease of use, promotes faster adoption and reduces cost of ownership through the following key enhancements:

  • Pre-configured processes to manage each stage in the claims lifecycle including information gathering from third parties, associated workflow and low-touch processing.
  • Integrated CWT file processing for immediate contemporaneous access to the market claim, whether lead or follower.
  • CAT Claim aggregation, online and accessible immediately, without having to resort to reporting applications or complex spreadsheets.
  • Compliance Support – pre-set SLAs to ensure reduced turn-around times for ECF advised claim transactions, supporting CTP 2012 compliance.
  • Paper Claim creation for direct / non bureau claims processing, ensuring that only one claim system is required to fully meet your claims processing requirements.
  • New User Interface built using HTML 5 to create an ultra-clean look to improve user efficiency.  Key information is available at-a-glance with fewer clicks to access common actions and navigate around a multi-benefit claim.  A single chronological view is provided of all events and activity that have taken place over the life of a claim.
  • Ability to use solution on a desktop, laptop or tablet is fully supported out-of-the-box.

FINEOS CTO, Jonathan Boylan said, “FINEOS 7.6 enables London Market insurers to benefit from the massive investment we have made in features and capabilities, allowing them to get up and running quicker. Crucially it also demonstrates a cost effective upgrade path. This solution offers a compelling option for insurers using increasingly costly legacy systems or those dealing with the challenges of systems not designed specifically for subscription based insurers.”