– Core Cloud Systems Becoming Mainstream
FINEOS Corporation, the market leading provider of core systems for Life, Accident and Health (LA&H) insurance, today announced three new customers who have acquired FINEOS as a cloud service.
The three new FINEOS customers, based in the US, Sweden and Canada respectively, have licenced FINEOS for their group insurance core processing needs. FINEOS is partnering with Amazon Web Services (AWS), the world’s largest IaaS cloud provider, to deliver the FINEOS Software as a Service (SaaS) offering.
FINEOS Insurance Cloud is designed for the specific compliance and security needs of the LA&H industry. With simple subscription pricing, a FastTrack implementation approach, 24 x 7 support and continuous upgrades, the FINEOS Insurance Cloud is the way forward for LA&H insurance core systems.
Speaking about the cloud, Gartner has said “By 2020, a Corporate ‘No Cloud Policy’ will be as rare as a ‘No Internet Policy’ is today.” FINEOS’ cloud-first strategy enables customers to get all of the advantages of SaaS in the cloud, including digital service and access to the API economy on a cost-effective, flexible, secure platform.
Commenting on the three new customers, Michael Kelly, CEO, FINEOS said, “We are encouraged to see the uptake of our product-suite as a cloud service. Our customers recognize the advantages of open core systems in the cloud managed by a trusted partner. We have partnered with AWS to provide an open, non-proprietary, SaaS offering for LA&H carriers that meets the industry’s stringent reliability and security requirements. Our new customer in the US has also purchased FINEOS Absence to support New York Paid State Leave legislation which comes into force next month. We are delighted with the interest and momentum we are building in the market and we will continue to invest in our product suite to meet the needs of our customer base.”