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FINEOS Holds its Tenth APAC User Group in Sydney

  • FINEOS customers meet to collaborate and share ideas, strategies and experience of Claims Transformation

FINEOS Corporation, a market leading provider of core processing systems for Life, Accident and Health insurance, held its tenth APAC User Group in Sydney at the Park Royal Hotel, Darling Harbour. With over 50 guests in attendance, the User Group included representatives from most FINEOS customers in the region, providing them with the opportunity to hear from industry experts and network with their peers. The User Group reflects the strong market position of FINEOS in the APAC region with 13 live insurance customers and a healthy pipeline of new business.

In a packed agenda, the audience was treated to three presentations from industry leaders including a presentation from  Australia’s largest commercial insurer who gave an overview of the recent FINEOS Global Summit  held in San Francisco.  This was followed by a presentation from the Accident Compensation Corporation (ACC) of New Zealand on their use of Predictive Analytics in the FINEOS Claims ecosystem and finally there was a presentation from the Institute for Safety, Compensation and Recovery Research (ISCRR) in Victoria looking at the area of predicting injury outcomes.

FINEOS showcased developments across three areas; innovations arising from the SharkFIN initiative, compliance with the Financial Services Code of Conduct, and the establishment of the FINEOS Claims Practice Programme.

SharkFIN is a new local FINEOS initiative for the incubation of innovation and has generated over 30 new ideas in a few months. The SharkFIN innovations presented included:

  • an assisted support attendant that integrates with FINEOS Claims to allow claimants to communicate with their case manager on the FINEOS platform via an advanced speech recognition robot
  • automated death certification and probate search
  • using the FINEOS platform to communicate with millennials through the use of social media such as whatsAPP and Facebook
  • automated e-signature integration for documents.

FINEOS CEO Michael Kelly commented: “Unlike other insurance system provider user groups, attendance at the FINEOS APAC User Group is restricted to customers who are in production so as to provide the maximum value to the attendees through real-life user experiences with FINEOS Claims. From our perspective, the User Group presents an excellent opportunity for FINEOS to understand more about our customers and where we can help them address more of their business issues”.

FINEOS has been successfully supporting clients in the APAC region for over 10 years and employs 100 staff locally with capability centres in Sydney, Melbourne and Wellington in NZ. FINEOS has over a dozen “blue chip” clients in production, including 4 of the 5 largest commercial insurers in Australia and a number of critical Government Agencies including ACC NZ, NZ Defence Force, TAC Victoria, Worksafe Victoria and Life Time Care under the NSW Government’s new icare group.

FINEOS is a global leader in insurance software with customers in nine countries and has been chosen by 8 of the top 20 Group Life & Health insurers in the US and 4 of the top 5 insurers in Australia. FINEOS has over 20 years’ experience working with insurers in North America, Europe and Asia Pacific and has over 30,000 licenced users globally.