FINEOS Corporation, the market-leading provider of group and individual core systems for life, accident and health insurance, announces today the opening of its new office in Hong Kong. The operation is part of FINEOS’ expansion into Asia, home to some of the world’s largest insurance organizations and comes as a result of continued growth and momentum for FINEOS globally. The new office will also support existing FINEOS customers as they expand the deployment of FINEOS AdminSuite to their Asian operations. FINEOS is also planning an office and support center for Tokyo, Japan later this year.
FINEOS AdminSuite, an Open Core platform for policy, billing and claims, achieves record levels of business growth with existing and new name customers. The Asia market is one of the fastest growing markets in the world with a positive outlook for the life, accident and health insurance market. Insurance organizations face the challenge of managing rapid growth with increasing demands for operational efficiency, enhanced customer digital experience expectations, and intensifying regulatory and compliance obligations. They must also come to terms with the emerging technologies disrupting the industry including AI, IoT and Block-chain. FINEOS’ SaaS based products built upon an Open Core platform can be deployed on an end to end or incremental basis, enabling pain point and business benefit needs to be addressed based on priority. Asia insurance markets ready to evolve their digital strategy with an engagement model that offers stability and flexibility to meet ongoing business challenges will see FINEOS as a welcome partner in the region.
FINEOS CEO, Michael Kelly, welcomed the opening of the new office. “Our business in Asia Pacific has been expanding rapidly in recent years so opening this office is a natural next step and part of our on-going commitment to supporting our customers”.