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FINEOS Launches Business Analyser for London Market Claims

Reporting and analytics capability to support better adjusting decisions, improved litigation outcomes, lower reinsurance rates and better technical pricing

Dublin, Ireland, 17 July 2013 – FINEOS Corporation, a leading provider of claims management software for the London Market, today announced the launch of FINEOS Business Analyser, the new reporting module for FINEOS Claims. The module offers London Market customers unprecedented insight into their claims operations, providing a single, integrated view of all their claims data. By using FINEOS Business Analyser to create dashboards and data explorer queries, customers can now analyse their data and use this insight to improve adjusting decisions and litigation outcomes, lower reinsurance rates and produce better technical pricing input. Moreover, the module provides business users with the ability to build their own reports without requiring any detailed knowledge of the underlying FINEOS data model.

Managing agencies currently face considerable regulatory reporting requirements. With FINEOS Business Analyser, they can pro-actively manage their claims and monitor re-open rates, transactions numbers, query rates and claim volumes. It can provide monthly breakdowns of claims by complexity, cause code analysis, risk code and class of business. Importantly, from an agency perspective, business users can create reports that give a breakdown of Lead and Agreement Party claims by a variety of different statistical code sets.

Jonathan Boylan, Chief Technology Officer at FINEOS commented, “We are delighted to introduce FINEOS Business Analyser which allows FINEOS customers to harness the power of their information and puts it in the hands of business users across the organisation. The launch of FINEOS Business Analyser and the recent release of FINEOS 7.6 are the result of the significant investment we have made in features and capabilities for the London Market. We believe that FINEOS Claims is the most advanced claims solution available for subscription operations including Lloyd’s syndicates and IUA members”.