Strong planning from the outset and engaged sponsors key to upgrade success
FINEOS Corporation, a market leading provider of core software solutions for the global Life, Accident and Health Insurance industry, announced today that its customer, Mutual of Omaha, has successfully upgraded to the latest version of FINEOS Claims.
Mutual of Omaha is a Fortune 500 North American provider of full-service, multi-line insurance and financial services products. Since 2009 they have used FINEOS to manage their claims operations for group employee benefits and related products, including short and long term disability. By moving to the latest version of the FINEOS Claims product, Mutual of Omaha is positioned to take on further upgrades from FINEOS and to stay current with the latest business content and product functionality.
According to Dan Christel, IS Manager at Mutual of Omaha, “The upgrade allows us to benefit from new features and functionality in the FINEOS product and enables us to retire older custom functionality, thereby reducing our maintenance and total cost of ownership. We managed this upgrade project ourselves with back-up support from FINEOS. The project was business focused and was underpinned by a strong technical plan that outlined approach and direction. We also benefited internally from active and engaged sponsors and we are excited by the benefits we can gain for this new version of the product.”
Commenting on the successful upgrade, Michael Kelly, CEO, FINEOS Corporation said, “We are pleased Mutual of Omaha has upgraded to version 7.5 and also by the fact that they undertook and managed the complete upgrade themselves. They are now in a position to take full advantage of the massive investment we have made in the FINEOS product and they are nicely positioned to continually take upgrades of all of the R&D investment which goes into our products. We are delighted that so many of our customers are now on the latest versions of FINEOS or are about to begin the upgrade process. In today’s fast moving competitive landscape there is no room for custom developed software. Software products must offer users full business functionality, business content as well as the configurability and flexibility to enable speed and agility to support the changing needs of the business.”
FINEOS is the leading claims solution for the global Life, Accident and Health insurance industry and supports the processing of Life, Disability, Critical Illness, AD&D, Waiver and a number of related lines. FINEOS supports both group and individual business claims on a single platform and can be used by organizations of all sizes, from small departmental claims teams to very large teams with thousands of users and millions of claims. FINEOS currently works with over 50 insurance carriers and counts six of the top 20 Life & Health carriers in the US and four of the top Life & Health carriers in Australia as customers.