– Event highlights challenges and opportunities for IP
– Representatives from across the industry attend the conference in London
Dublin, Ireland, June 25, 2015 – FINEOS Corporation, a market leading provider of core processing systems for Life, Accident and Health insurance, has just concluded its conference in London entitled “A New Vision for Income Protection”. The event, which was attended by insurers from across the industry and hosted by FINEOS Chairman, Peter Le Beau, looked at the challenges facing income protection and considered the social value of IP and how it could be used to supplement welfare initiatives. There were presentations and panel contributions from SCOR, the Income Protection Task Force (IPTF), the Association of British Insurers (ABI), Friends First, Swiss Re and LV=.
Key highlights from the session included:
• An analysis from Seth Williams of the ABI of the current political landscape and how the government’s priorities of reducing welfare creates opportunities and challenges for the industry to effectively make the case for greater provision of protection by the industry
• A thought provoking presentation by Russell Higginbotham, CEO of Swiss Re UK, that proposes broadening the education for IP to include all of the stakeholders in society
• A revealing and dramatic demonstration from LV= on the difficulties of claiming welfare payments compared to the usability of well-designed IP products with customer focused claims processes
• A case study from Colum Flanagan, Health Claims Manager, Friends First Life Assurance Company (Friends First) on their deployment of FINEOS Claims which has led to significant cost base savings through operational efficiencies and also enhanced customer service
• A comprehensive and wide-ranging panel discussion with six industry leaders, chaired by Peter Le Beau, which created strong involvement from the audience.
Commenting on the event Michael Kelly, CEO, FINEOS said, “We are delighted with today’s turnout and the level of debate overall. As the leading global provider of Income Protection (Disability Insurance) software, we understand the challenges that insurers face in meeting the needs of their customers while also adapting to the changing insurance landscape. We will continue to invest in our products to ensure our customers remain at the leading edge of their market”.
FINEOS is the global market leader in core insurance technology for the Group Disability, Life, Accident and Health Industry. It is also one of the funders of the Seven Families campaign in the UK to raise awareness of the financial impact of long term illness or disability and show the importance and relevance of income protection.
FINEOS currently works with 60 insurance carriers around the world and today has over 25,000 licensed users of the product.