OTIP (Ontario Teachers Insurance Plan) Chooses FINEOS Claims to Manage Group Disability and Life Claims

FINEOS Corporation Limited (ASX: FCL) the market-leading provider of group and individual core systems for life, accident and health insurance, today announced that OTIP, a not-for-profit organization that provides a full range of group and individual insurance products for educators – has chosen FINEOS Claims and FINEOS Payments to empower faster, easier and more efficient claims and payment processing for its group disability and life lines of business.

“We are looking forward to partnering with FINEOS on this project,” said Patricia Wilkinson-Bizjak, Vice-President of Corporate Affairs and Communications, OTIP. “We believe FINEOS provides the right fit for OTIP in terms of the capabilities it offers.”

Used by over 50 insurance organizations in the Life, Accident and Health space, FINEOS Claims is a best in class, customer centric, web-based claims processing software solution.  FINEOS Claims supports group, voluntary and individual claims on a single platform and can be deployed by carriers of all sizes.

FINEOS Payments is a powerful benefit calculation and disbursement module that integrates with FINEOS Claims, FINEOS Absence and FINEOS Provider to help ensure accuracy and completeness while significantly reducing administrative costs. When integrated with FINEOS Claims, FINEOS Payments also addresses medical rehabilitation services, inpatient care/invasive surgery, social security advocacy services, and identification of beneficiaries on death benefit claims.

“We are delighted OTIP has chosen to work with FINEOS to enhance their claims process. We look forward to a fast and smooth system implementation to enable OTIP to gain the benefits of FINEOS as early as possible. This partnership continues to strengthen and consolidate our market leadership”, said Michael Kelly, CEO of FINEOS Corporation.