FINEOS Corporation, a market leading provider of claims management core software solutions, today announced that the FINEOS Claims for London Market product has been enhanced to support ECF Write Back. The move underscores FINEOS’ commitment to the Market and makes FINEOS Claims the most functionally rich solution available for subscription operations of all sizes.
According to Michael Kelly, CEO, FINEOS, “We are delighted that FINEOS Claims has been enabled for Write Back and look forward to the benefits of using the new system. Write Back represents a huge stride forward in claims handling and management and supports plans for London Market modernisation. Managing Agents who use FINEOS will be able to differentiate themselves from their competitors by adding genuine value to their claims service. By using a single operating model, carriers can reduce duplication effort and overall claims cycle times”.
FINEOS is an early adopter of Write Back and the introduction of the new interface enables FINEOS customers to receive any movement on a claim in almost real time. It will allow users to operate entirely from within their own claim platform without the need to directly access central systems. In addition, the consolidated data provided by Write Back will allow for improved Management Information. Carriers can leverage rich claims data along with their internal operational data to generate the right information for better decision making.
The Write Back enabled version of FINEOS Claims provides a highly reliable platform that can scale up to process tens of thousands of messages per hour. It can be hosted by FINEOS with minimum effort from the carrier. The FINEOS Write Back solution insulates businesses from the complexity of messaging, allowing them to process information in real time across various platforms.
Currently, ECF functionality allows claims data and documentation submitted by a broker to be accessed, viewed and responded to by a carrier. Write Back will enhance the level of claims data received from the broker to near real time and allow the receipt and re-sending of claim documents, enabling carriers to build their own ‘view’ of a claim and respond internally, sending data and documents back to the market systems.